Red Sea: The Middle East’s Untapped Oil, Gas Region
The Red Sea remains underexplored but one of the world’s most intriguing areas for hydrocarbon exploration compared to the Arabian Gulf, home to Saudi Arabia’s Safaniya and Qatar and Iran’s joint gas field North Field and South Pars.
A key difference between the Gulf and the Red Sea is water depth. The Arabian Gulf is one the world’s shallowest seas with depths rarely exceeding 100 m. The Red Sea has depths of up to 10 times that figure.
Nine countries border the Red Sea, including Saudi Arabia, Egypt, Yemen, Israel, Jordan, Djibouti, Eritrea, Somalia and Sudan. While the Red Sea offers some exciting opportunities for stakeholders, E&P activities here have been scarce
>> READ MORE