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In Q2 2023, Qatar's contract awards surged to $10.4 billion, 8.3 times higher than the same period in 2022. The gas sector dominated, accounting for 97% of awards, with a remarkable 16-fold increase to $10 billion in which QatarEnergy awarded a $10 billion EPC contract for the North Field South megaproject. The GCC region's project awards hit $49.7 billion, a five-year high, led by Saudi Arabia, UAE, and Qatar. MEED Projects predicts 2023 GCC contracts to exceed $110 billion, with substantial growth in Saudi Arabia, Qatar, and the UAE.

Qatar reports $10.4 billion contract awards amid massive gas expansion

< 1 minute read

In Q2 2023, Qatar’s contract awards surged to $10.4 billion, 8.3 times higher than the same period in 2022. The gas sector dominated, accounting for 97% of awards, with a remarkable 16-fold increase to $10 billion in which QatarEnergy awarded a $10 billion EPC contract for the North Field South megaproject. The GCC region’s project awards hit $49.7 billion, a five-year high, led by Saudi Arabia, UAE, and Qatar. MEED Projects predicts 2023 GCC contracts to exceed $110 billion, with substantial growth in Saudi Arabia, Qatar, and the UAE.

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