Insight
Middle East and North Africa Upstream: 2023 in review
Report summary
In this review, we highlight the significant upstream events and trends of 2023 across the Middle East and North Africa. Saudi Arabia’s voluntary 1 million b/d cuts dominated oil production, while regional investment continued to increase, despite lower prices. The region was a hot bed of FIDs with several key projects sanctioned, including Aramco’s Jafurah phase 2, ADNOC’s Hail and Ghasha and QatarEnergy’s North Field South. COP28, hosted by the UAE, made headlines in the latter part of the year, where 50 companies signed up to the Oil & Gas Decarbonisation Charter, accelerating net zero and flare reduction targets for regional NOCs. We also delve into the key trends in investment, revenue, production, M&A, licensing and decarbonisation.
Table of contents
-
Executive Summary
- 2023 in review – a global upstream series
Tables and charts
This report includes 1 images and tables including:
- Middle East and North Africa: 2023 capital investment and activity overview
What's included
This report contains:
Other reports you may be interested in
Insight
MENA upstream in brief
The latest stories and trends in the Middle East and North Africa upstream sector combined with our expert opinion and analysis.
$1,350
Insight
Sub-Saharan Africa upstream: 2023 in review
Our recap of Sub-Saharan Africa's key upstream themes and events in 2023
$1,350
Insight
Future of Exploration Survey results 2024: explorers emboldened and disciplined
Our 2024 Future of Exploration Survey results show greater internal support for exploration while pressures on budget and headcount grow.
$1,300