EIC SHOWCASES TECHNOLOGY IN THE MIDDLE EAST AS KUWAIT ANNOUNCES HUGE DISCOVERY

Coming up on the 3 September, the Energy Industries Council (EIC) is hosting its Middle East Technology Showcase in Abu Dhabi. This is an excellent opportunity to highlight innovative technologies spanning across the entire energy sector and we would encourage clients and connections to contact Ryan McPherson at EIC if they are interested in participating.

July has seen Kuwait announce a huge offshore oil and gas discovery in the Al-Nokhatha offshore field, with KPC disclosing an estimated 3.2 billion barrels of oil equivalent and 5.1 trillion cubic feet of gas reserves. This means that Kuwait will now join Saudi Arabia, Qatar and Abu Dhabi as a major offshore market for the supply chain in the GCC.

Across the wider GCC, the EIC DataStream project database is now tracking 497 energy projects with a total value of US$720 billion in the GCC in the period to 2030 and this will soon witness a further major increase in the future numbers from Kuwait.

Across the border, Saudi Arabia remains one of the most prospective global energy markets in the period to 2030 with US$226bn of energy projects being tracked by the EIC Datastream. HFI has launched the summer edition of our Saudi Arabia Ventures Initiative (SAVI) eGuidebook which highlights the importance of well-structured local partner ventures as a key aspect of success in the Saudi energy market.