Serba Dinamik Annual Report 2019

105 (Source: OPEC) (Source: BP) (Source: BP) (Source: BP) (Source: BP) Figure 4-13: Crude Oil Production in Saudi Arabia Figure 4-16: Natural Gas Production in Bahrain Figure 4-14: Natural Gas Production in Qatar Figure 4-17: Natural Gas Production in Saudi Arabia Figure 4-15: Natural Gas Production in UAE M I D D L E E A S T O I L A N D G A S I N D U S T R Y Barrels per Day (’000) Growth Rates (%) 2018 2017 2014 2015 2016 10,317 10,460 9,713 10,193 9,959 3.6% 2.6% -4.8% 0.8% 4.9% Growth Rate Crude Oil Production Standard Cubic Meters (Billion) Growth Rates (%) 2018 2017 2014 2015 2016 176 174 170 175 172 1.8% -0.7% -0.8% 0.8% 3.2% Growth Rate Crude Oil Production Standard Cubic Meters (Billion) Growth Rates (%) 2018 2017 2014 2015 2016 65 60 53 59 62 4.4% 2.7% 2.8% -0.6% 11.0% Growth Rate Crude Oil Production Standard Cubic Meters (Billion) Growth Rates (%) 2018 2017 2014 2015 2016 15 14 15 15 15 2.1% -2.7% 0.7% 5.0% 0.7% Growth Rate Crude Oil Production Standard Cubic Meters (Billion) Growth Rates (%) 2018 2017 2014 2015 2016 112 105 97 99 109 2.6 % 6.1% 3.8% 2.4% 2.0% Growth Rate Crude Oil Production 2014 -2018 CAGR = 1.5% • 2016 -2018 CAGR = -0.7% 2014 -2018 CAGR = 0.2% • 2016 -2018 CAGR = 1.4% 2014 -2018 CAGR = 0.9% • 2016 -2018 CAGR = 0.5% 2014 -2018 CAGR = 3.6% • 2016 -2018 CAGR = 3.2% 2014 -2018 CAGR = 5.2% • 2016 -2018 CAGR = 3.6% Moreover, OPEC is expecting a higher y-o-y growth of 1.2% on oil demand in the Middle East, driven by transportation fuels, particularly gasoline and industrial fuels, predominantly diesel and residual fuel oil. Similarly, gas demand in the Middle East is also expected to grow driven by the large-scale addition of water desalination plants in the region. In 2019, some notable developments within the oil and gas industry in the Middle East include the following: Petro Rabigh Integrated Refinery & Petrochemical Complex Phase II in Saudi Arabia with a project