The Middle East is expected to commence 621 projects between 2023 and 2027, according to data from GlobalData Energy. Out of these, upstream projects would be 81, midstream would be 141, the refinery at 84, and petrochemicals would be the highest with 315 projects.
New build projects are expected to lead the upcoming project landscape in the Middle East, constituting around 78% of the total projects across the value chain. The share of new build projects is especially high in the petrochemicals sector accounting for 60% of the total new build projects across the value chain. On the other hand, expansion projects dominate the downstream (refineries) sector with 43%.
In the Middle East, more than half of the projects are planned in the construction and commissioning stages and are more likely to commence operations during the outlook period 2023–2027. About 34% of the projects are in the planning stages, and the rest have been approved or awaiting approval.
Among countries, Iran leads the upcoming projects landscape in the Middle East, accounting for 45% of the projects expected to start operations by 2027.
