By 2027, there are expected to be 621 oil and gas projects starting in the Middle East, with Iran taking the lead in upcoming projects.

It is anticipated that the Middle East will see a total of 621 projects starting operations between 2023 and 2027. Based on the available data, there are 81 upstream projects, 141 midstream projects, 84 refinery projects, and the highest number of projects, 315, in the petrochemicals sector.

Oil and Gas Projects in the Middle East

From 2023 to 2027, around 64% of the upcoming oil and gas projects in the Middle East will be focused on refineries and petrochemical projects. After that, we have the midstream sector, which includes different parts. 

The pipeline segment comprises 40% of all projects, while oil storage and gas processing account for 23% and 21%, respectively.

In the Middle East, new construction projects are taking the lead in the upcoming project landscape. They make up approximately 78% of all projects throughout the value chain. In the petrochemicals sector, a significant portion of new projects are focused on building new facilities. 

These new build projects comprise about 60% of all new projects in the entire value chain. However, it is worth noting that expansion projects hold the majority of 43% in the downstream sector, specifically refineries.