The Arab world remains a major hub for oil and gas investments, attracting an impressive $406 billion from international and regional companies. Since January 2003, more than 610 projects have been initiated across the region, driven by 356 companies.

A recent report by Dhaman, the Arab Investment and Export Credit Guarantee Corporation, reveals that the United States leads in the number of projects with 85 initiatives, representing 14% of the total. In contrast, Russia stands out in terms of investment value, contributing $61.5 billion, which accounts for 15.2% of the total investment.

The report also highlights a projected decline in the region’s hydrocarbon reserves. Proven oil reserves are expected to decrease by 7% from 704 billion barrels in 2024, which constitutes 41.3% of the global total, to 654.5 billion barrels by 2030.

Natural gas reserves in the Arab region are also expected to decrease by 7.5%, from 58 trillion cubic meters (26.8% of the global total) to 53.53 trillion cubic meters by 2030. Despite these reductions in reserves, the region is set to boost oil production, with output projected to rise to 33 million barrels per day by 2030, reflecting a 6.4% increase from 2024.

Overall, the Middle East remains the world’s largest holder of proven oil reserves, representing approximately 55.5% of the global total in 2023, according to Statista. However, its dominance has gradually diminished over the decades, decreasing from nearly 63% in 1960.

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