Welligence Middle East | Middle East NOCs – will the international upstream acquisition spree continue?

June 5, 2023

In a region where international E&Ps spent much of the last century jockeying to take a role in the upstream space, the tide in the Middle East has turned. Over the past decade, Middle Eastern NOCs have started to increasingly look outwith their domestic markets and build an international upstream presence. The peer group is pursuing a two-pronged approach by expanding its presence overseas while bolstering domestic supply.