Qatar is set to award an estimated $85 billion worth of planned projects in the coming years, according to a report.
Of these planned, but unawarded projects, about $9.1 billion worth of projects are under study, while about $31.7 billion worth of projects are at some stage of tendering while $44 billion projects are in the designing stage, reported The Peninsula.
About $12.1 billion worth of projects are planned or under way in the oil and gas project market, said the report, citing leading market and business intelligence platform Meed
Upstream projects account for the lion's share (about 55 per cent) of the country's oil and gas projects, it added.
Qatar’s 10 biggest construction clients together have about $55.1 billion worth of projects in execution with Qatari Diar topping the list with about $18.5 billion of projects under construction.
Barwa Real Estate Company was Qatar’s second biggest construction client with about $10.9 billion worth of projects under construction followed by Msheireb Propertiest with about $5.7 billion worth of projects in execution, said the report.
Qatari Diar’s biggest project is the $17-billion mixed-use Lusail Development, it added.
With huge gas reserves and considerable oil wealth, Qatar has enormous potential to generate abundant project opportunities, particularly in the natural gas sector as it is the top exporter of liquefied natural gas globally, said the Meed report.
Upstream and downstream together account for more than 90 per cent of the oil and gas projects market in Qatar with a combined value of $20 billion share by value, it stated.
The biggest oil and gas projects planned or under way in Qatar are the $6.4-billion Bul Hanine Field Redevelopment Project; $2 billion North Field Gas Development and $700-million Barzan Gas Development – Offshore.