Business | Markets
Saudi Arabia to put $119b into energy infrastructure
Saudi Arabia is expected to invest $119 billion in energy infrastructure projects from 2007 to 2009, according to latest studies, with investments in the refining sector being expected to grow at a staggering 2189 per cent in the same period compared with figures from 2004 to 2006.
- Staff Report
- Published: 00:28 April 18, 2008
Dubai: Saudi Arabia is expected to invest $119 billion in energy infrastructure projects from 2007 to 2009, according to latest studies, with investments in the refining sector being expected to grow at a staggering 2189 per cent in the same period compared with figures from 2004 to 2006.
As burgeoning energy requirements continue to mirror the current pace of economic development across the region, national oil companies, including those with upstream, midstream and downstream operations in the Middle East, are facing challenges such as ageing infrastructure and equipment, lack of efficiency in refinery processes and shortage of skilled manpower.
The sizeable opportunities within the oil and gas sector have been identified by SAS, a provider of business intelligence and analytical software and services, which aims to deliver business-critical solutions to bolster decision making within the oil and gas sector.
Productivity
"In this rapidly growing industry, it is essential to make quick but intelligent operational decisions to ensure efficiency and maximise productivity," Peter Venn, business development director, oil and Gas, SAS - Middle East and Africa, said in a statement.
"Energy requirements across the globe are growing at a very fast rate, and it is critical for companies to address challenges that arise within the entire production process to meet the growing demands.
For a company to be successful amidst the massive extent at which the oil and gas sector is growing, it is truly a tremendous advantage to utilise a robust decision and collaboration-tool. As an organisation with extensive experience and a pool of highly trained professionals, we are fully equipped to address this need," Venn said.
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