Report: ME, Africa drilling expenditures to reach $28 billion by 2014

Drilling and workover expenditure across the Middle East and North Africa may increase by more than $10 billion to reach $27.9 billion by 2014, according to Douglas-Westwood’s Middle East & North Africa Oilfield Services Market Report 2010-2014.

Offshore staff

CANTERBURY, UK -- Drilling and workover expenditure across the Middle East and North Africa may increase by more than $10 billion to reach $27.9 billion by 2014, according to Douglas-Westwood’s Middle East & North Africa Oilfield Services Market Report 2010-2014.

The report offers onshore and offshore drilling expenditure and workover forecasts for Algeria, Egypt, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, Syria, UAE, and Yemen – revealing particularly strong growth from offshore Iran. It also illustrates historic and forecast oil and gas production across the region, the number of wells drilled, and actively producing and drilling rig requirements associated with new activity.

11/17/2009

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