Market Size of United Arab Emirates Oil And Gas Upstream Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 9.29 Billion |
| Market Size (2029) | USD 12 Billion |
| CAGR (2024 - 2029) | 5.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UAE Oil and Gas Upstream Market Analysis
The United Arab Emirates Oil And Gas Upstream Market size is estimated at USD 9.29 billion in 2024, and is expected to reach USD 12 billion by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing natural gas production, increasing onshore exploration and production activities and rising oil and gas investments are expected to drive the United Arab Emirates oil and gas upstream market during the forecast period.
- On the other hand, the plans to diversify the power generation mix by introducing renewable energy sources are expected to hinder the growth of the United Arab Emirates oil and gas upstream market.
- Nevertheless, the increasing demand for LNG in the country leads to the integration of smart technologies in the exploration of natural gas, creating an ample number of opportunities for the market players in the country.
