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
Bahrain28,02928,155-0.432,670-14.2
Kuwait262,772265,772-1.1230,05014.2
Oman52,88552,4330.942,38124.8
Qatar163,856159,3562.8132,65523.5
Saudi Arabia401,039400,2420.2314,38627.6
UAE727,233726,1830.1492,47747.7
GCC total1,635,814 1,632,141 0.21,244,61931.4
Iran191,265190,7650.3102,84886.0
Iraq37,76533,76511.828,46032.7
Regional total1,864,844 1,856,671 0.41,375,92735.5

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