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More than US$50bn worth of contracts for various oil, gas and petrochemical projects were issued last year. The value of investments is nearly double the US$27bn in contracts awarded in the previous year, reflecting a sharp rise in oil and gas projects across the region
There is a rising number of specialist enterprises involved in the value chain. Companies involved in various energy projects are unique because they deal with complex and diverse requirements when compared to other industries.
Following the growing pressure oil and gas projects face, companies in the Middle East are investing in enterprise resource planning (ERP) solutions to infiltrate into all areas of the business and value chain.
ERP brings together various processes of a large organisation, allowing each department to communicate, share information and collaborate with other divisions within the corporation.