Oil And Gas Sector

The GCC countries possess huge energy resources especially Oil and Gas, not to mention that the Kingdom of Saudi Arabia is regarded as the first country in the world for oil reserves. The GCC investments in oil and gas amounts 300$ billion, as the GCC countries believe in the importance of this wealth and its role in supporting the development plans and realizing the wellbeing of their people, the matter that reflected on magnifying the benefit from the oil returns and employs it in successful economic projects. With regard to each country’s share in the world oil reserves and according to the statistics of the Joint Arab Economic Report for the year 2006, Saudi Arabia possesses about 2264.25 billion barrels as the biggest world reserves, UAE 97.8, Kuwait 101.5, Oman 5.40 and Qatar with reserves of 15.12 billion barrels. Concerning the gas reserves in the GCC countries, the Saudi Arabia’s about 7.153 billion Sq.M, Bahrain 0.93, U.A,E. 6.073 billion Sq.M, while Qatar is regarded regionally and worldly the first country in this field with reserves reached about 25.793 billion Sq.M, while Kuwait share reaches about 1.586 and Oman 0.856 billion.