Last Updated :
18 April 2008 at 15:40 IST
Saudi Arabia to invest $119 bn in energy projects
Commodity Online
JEDDAH: Saudi Arabia is expected to invest $119 billion in energy infrastructure projects from 2007 to 2009.
According to a research report investments in the refining sector in Saudi Arabia is expected to grow at a staggering 2189 per cent in 2007-09 period when compared to the period 2004 to 2006.
National oil companies including those with upstream, midstream and downstream operations in the Middle East are saddled with ageing infrastructure, lack of efficiency in refinery processing and shortage of skilled manpower.
To face the challenges ahead, oil companies need to invest in critical business intelligence and analytical software and services, the report said.
With the fast past demand growth in energy it is critical for companies to address challenges that arise within the entire production process to meet the growing demands.
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