Kuwait City: Arab countries are facing a significant decline in their oil and natural gas reserves, with projections indicating a 7% drop by 2030. This is according to a report from the Arab Investment and Export Credit Guarantee Corporation.
Current and Future :
As of this year, oil reserves in Arab countries are expected to decrease to 70.4 billion barrels, which still accounts for 41.3% of the world’s total oil reserves. However, by 2030, these reserves are predicted to fall further to 65.45 billion barrels—a 7% decline from current levels.
Sector Investment :
Over the past two decades, Arab countries have attracted $406 billion in foreign investments in the oil and natural gas sectors. There are currently 610 projects in these sectors, with 356 being led by foreign companies. The United States and Russia are the top investors, with the U.S. involved in 85 projects and Russia contributing a total of $61.5 billion.
Together, Russia and the U.S. control nearly 30% of all projects in the Arab oil and gas sectors, while the remaining investments come from other foreign nations and Arab countries themselves.
Gas Reserves:
The region’s natural gas reserves are also expected to decline, from 58 trillion cubic meters this year—representing 26.8% of global reserves—to 53.53 trillion cubic meters by 2030.
Increase Production:
Despite the decline in reserves, oil production in Arab countries is expected to increase. By 2030, daily production is projected to reach 33 million barrels, up from the current 28.7 million barrels—a 6.4% increase.
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