The Middle East and North Africa region is poised for an unprecedented level of investment across the energy value chain, lifted by higher commodity prices, rising demand for hydrocarbon products, and a generally positive market outlook. Rystad Energy expects cumulative expenditure in the region to exceed $738 billion in upstream oil and gas from 2023 to 2030 as project commitments climb. Saudi Arabia leads the way with a spending total of $234 billion through 2030, followed by the UAE with $75 billion.