The planned and committed energy sector in the UAE reached AED 371 billion (101 billion USD), ranking third in the Middle East and North Africa region after Saudi Arabia and Egypt.
Arab Petroleum Investment Corporation (APICORP) reported in its Monday report, MENA Energy Investment Outlook, that UAE accounts for nearly 12 per cent of the total regional investment.
The company confirmed the volume of investments that have occurred in the country’s energy program is about 184 billion dirhams (50 billion USD). The country ranked first place in the region followed by Iraq and Saudi Arabia.
The report said that the volume of energy projects currently under implementation is estimated at 337 billion USD at the end of 2016. In contrast, the study estimates the volume of energy projects planned for implementation in the next five years 2017-2022 about 622 billion dollars, thus the total volume of investments approved and planned by the end of 2016 is equivalent to 959 billion dollars.
