Opinion

Middle East and North Africa upstream: 5 things to look for in 2025

Predictions for the year ahead

1 minute read

Wood Mackenzie

Gavin Young

Principal Analyst, Middle East Upstream

Gavin brings more than a decade of industry experience in exploration, new ventures, corporate strategy and valuations.

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Gavin Young, Alexandre Araman, Martijn Murphy, Dalia Salem, Eimhear Sheehan, Ali Nabizadeh, Saurabh Ranade, Kushal Shah, Satwik Sharma and Kandace Persad

MENA's upstream sector is gearing up for a year brimming with opportunity and challenge. Robust investment is set to put considerable strain on the supply chain, with rising costs and delays anticipated. High-profile exploration wells in Oman, Egypt and Kuwait are eagerly anticipated, and Algeria and Libya are poised to complete their first bid rounds in over a decade.

Powered by Lens Upstream, in this report we share our take on five key themes to watch in 2025, including:

  • Algeria and Libya bid round success: a long-awaited return to competitive offerings.
  • Deepening gas deficits: widening shortfalls in Iraq, Iran, and Egypt? 
  • Market turbulence from "Trump 2.0"?
  • And more. 

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