Insight

MENA upstream: 5 things to look for in 2017

06 January 2017

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06 January 2017

MENA upstream: 5 things to look for in 2017

Report summary

Activity levels have remained relatively robust across the MENA region despite the period of low oil prices. We expect this trend to continue through 2017. As the oil price shows signs of recovery, we envisage five main themes dominating the MENA upstream industry during the next year.

1. Gas will be major growth story in MENA. Oil production expected to reduce but uncertainty surrounds the OPEC deal.
- Production from new gas projects expected onstream in 2017
2. Geopolitical uncertainty will continue. Conflict will remain a key risk in the region.
3. Iran will sign the first IPC contracts and M&A will be largely focused in the Eastern Mediterranean and North Africa.
4. FIDs will focus on gas, with overall investment levels set to increase.
5. Exploration drilling will be largely unchanged from 2016 with mixed results expected from recent licensing rounds.
- Key wells to watch and activity expected across MENA in 2017