MENA energy projects facing huge challenges

During the coming decade, the Middle East and North Africa (MENA) energy industry is expected to continue the massive investment program by executing projects worth approximately $1.1 trillion across the energy value chain. According to the International Energy Agency, the MENA region is expected to represent about 25 percent of global energy investments. Predictably, large resource holders such as Saudi Arabia, the UAE, Iraq, and Iran are expected to lead the way in spending, Booz & Company said Tuesday. "However, the next wave of capital projects will be larger and more complex, and will represent a significant capital outlay that needs to be carefully managed, said Raed Kombargi, partner with Booz & Company, according to The Saudi gazette newspaper. Today, MENA energy companies have a rare opportunity to fundamentally review the way they develop, manage, and execute capital projects. Specifically, the industry will need to master key habits to build world-class project delivery capabilities, Kobargi said.(QNA)