Middle Eastern and North African oil invests in energy projects

9 November 2011: Middle Eastern and North African oil producing countries will invest $525 billion on energy projects from 2012 to 2016. Countries such as Saudi Arabia, the UAE, Iran and Algeria have increased spending on energy projects for the next five years as current high oil prices are allowing them to resume projects that were delayed because of to the financial crisis.

Saudi Arabia will top the list with committed investments of $141 billion, followed by the UAE that is planning to invest $76 billion in that period, according to Apicorp. Against this backdrop, The Middle East Turbomachinery & Pumps Expo (METPE), the first-of-its-kind conference to be held in UAE, has announced six instructional workshops for engineers and other technical professionals in the gas turbine & pumps field.

Source: Zawya