There is about $181bn of projects are planned or under way in Algeria, with a further $31bn of announced projects currently on hold. The fall in oil prices from 2014 to 2016 saw the annual value contract awards fall in 2017 to just $3.6bn, the lowest levels in over a decade.
With $41bn unawarded projects, there is potential for project activity to pick up in 2019 and 2020, certainly in comparison to the levels seen in 2017 and 2018. However, the long-term outlook for projects is a concern with Algeria’s pipeline of planned projects worryingly small when compared with the volume of projects currently underway. Oil, gas and petrochemicals projects account for more than half of all planned projects in Algeria that are expected to see major awards in the coming years. Sonatrach owns nearly 76.5 per cent of all oil and gas projects, while Groupement TouatGaz is the second major sponsor of projects. About $8.8bn of power projects are planned but not yet awarded, about on fifth of all unawarded projects.
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“MEED Projects allows our sales team across the region to track upcoming projects quickly and efficiently, saving time and helping us to effectively target potential customers. It has certainly played a role in developing our market knowledge and it’s continuing to support rapid growth in the Aconex business.”ACONEX
“MEED Projects is an excellent tool for Ducab as it helps our sales department access updates on the latest GCC projects market in great detail. Their research team does a great job in keeping Ducab abreast with reliable information on movements in the projects from inception to completion.”DUCAB