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Deloitte: MENA NOCs to invest $140 billion in 2011

11/07/2011
By Eric Watkins
National oil companies in the Middle East and North Africa region are expected to invest some $140 billion in the oil and gas industry this year, with even more to follow in coming years, according to a recent report. "Looking ahead to the coming 5 years, the majority of engineering, procurement, and construction (EPC) work will be awarded in Saudi Arabia," said the report by Deloitte in the Middle East. The report also states that Iraq is a "new focus" as contractors follow their client oil companies into the country with more than $130 billion in contracts to be awarded. "The Iraqi opportunity itself is lucrative with the government expected to award EPC contrac...
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