Explanatory Notes

OPEC Member Countries have embarked upon substantial investments, both upstream and downstream, to ensure that the world economy benefits from regular and secure oil supplies. OPEC Crude oil production capacity (excluding Iraq) is projected to increase to around 36.9 mb/d by 2010 from 31.7 mb/d in 2005.
In addition, Iraq’s recovery should contribute significantly to raising OPEC’s overall production capacity.

Similarly, production capacity of NGL and other liquids will be expanded by around 2 mb/d to reach 6 mb/d by 2010. All figures include Angola.

To achieve these goals, OPEC is undertaking intensive investment plans>>

OPEC Upstream Capacity Plans (mb/d)

OPEC Upstream Investment Plans