The company announced the Arab Petroleum Investment Corporation (APICORP) said on Saturday that Saudi Arabia will invest $ 165 billion in oil projects and projects related to energy, during the next five years, making it the top Arab in terms of what will be invested in this sector in the Arab region.
The company said, according to a report to the Agency "Bloomberg" U.S. News, that Saudi Arabia tops energy projects that will be witnessed in the Middle East during the coming period, noting that the total investment in projects oil will reach to 740 billion dollars in 2017 at the level of the entire Middle East, Saudi-led and followed by the UAE with investments of up to $ 107 billion.
The company says that Algeria, Qatar and Iran ranks third in terms of investment in oil projects during the same period, and by $ 71 billion.
And calculated "APICORP" the Saudi Arabia and various countries in the region, which is planning for this large volume of investments will be able to finance their projects self if continued OPEC basket price over percent dollars, at current levels, which increase from what it was last year by $ 10 a barrel.
The company explained, "APICORP" mega projects planned by Saudi Arabia and countries in the region to move distributed to projects for oil and gas and petrochemicals.
The Kuwaiti oil expert who lives in London, Abdul Samad Al-Awadi, the $ 165 billion of investment is not large when compared to the size of the Saudi oil sector, which is the largest in the world.
The Awadi told "Arab. Net" that invest these huge sums in the oil sector and the energy sector does not necessarily mean an increase in oil production of the kingdom during the next five years, but may be hiring these investments in the process of improving the efficiency and performance of this sector.
"The part of these investments will employ to increase the productive capacity of the Kingdom certainly, but another part and perhaps the greater part may be related to the production process itself and network connectivity in the Kingdom, and these critical investments."
Awadi pointed out that Saudi Arabia is the world's only oil surpluses also, therefore, to maintain this surplus wealth for the future needs to projects and investments for the future, this may be one of the areas that will be allocated sums to invest.
It is noteworthy that Saudi Arabia is the largest producer and largest exporter of oil in the world, and a few weeks ago and described the newspaper "Financial Times" British Kingdom as lead global oil markets, due to any decision issued by the Kingdom with regard to oil will be the most influential in the market than others.
