29 November 2005
IEA: More investment needed in Middle East, North Africa
THE MIDDLE East and North Africa may have vast natural hydrocarbons resources, but additional upstream investment is urgently needed to develop them quickly enough to supply fast-rising world demand, says the International Energy Agency (IEA). "The importance of the Middle East and North Africa (Mena) to global oil and gas markets cannot be underestimated. These countries have vast resources, but these resources must be further developed. Investment should not be delayed," William Ramsay, the IEA's deputy executive director, said last month. Presenting findings from a new IEA publication, World Energy Outlook 2005: Middle East and North Africa Insights, Ramsay said a lack of investment in up
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
