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Apicorp says Mena holds 88trn cubic meters of proven gas deposits
- Middle East: Tuesday, December 11 - 2012 at 04:43
The Arab Petroleum Investment Corp (Apicorp), a subsidiary of the Organisation of Arab Petroleum Exporting Countries (Oapec), has said the Middle East and North Africa (Mena) region holds nearly 88 trillion cubic metres (tcm) of proven natural gas deposits, Saudi Gazette has reported. The amount represents around 42% of the world's total gas wealth, with the bulk based in the UAE, Iran, Qatar, Saudi and Algeria, Apicorp said. At current output growth rate of 6.9% per year, these deposits could last for 33 years, it said. "Our findings confirm and extend our previous results showing that on aggregate Mena proved reserves are substantial and their combined dynamic life is a little beyond the traditional 30-year strategic planning horizon for E&D," Apicorp's senior consultant Ali Aissaoui said.
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