Gulf projects 18 February 2008

24 February 2008
The MEED Projects index grew by $8.2bn in the third week of February, bringing the total value of projects planned or under way in the region to $1.86trillion.

The increase was driven by the Qatari and Iraqi markets, which recorded a growth of 2.8 per cent and 11.8 per cent respectively.

The $4bn rise in the value of Iraqi projects was triggered by signs of renewed activity around South Oil Company’s West Qurna field development scheme.

Table: Gulf projects ($m)

18 February 200811 February 2008% change on week18 February 2007% change on year
Saudi Arabia401,039400,2420.2314,38627.6
GCC total1,635,814 1,632,141 0.21,244,61931.4
Regional total1,864,844 1,856,671 0.41,375,92735.5

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