OPEC Upstream Capacity in the Medium Term
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. Large investments are currently underway in OPEC Member Countries to expand upstream capacity. In the medium term, according to OPEC’s projects database, there are over 120 projects expected to come on-stream and these are expected to add 5.0 mb/d of net crude oil and NGLs capacity by the end of 2013.
OPEC crude oil production capacity is projected to increase to around 37.4 mb/d by 2013 from 34.3 mb/d in 2008. Similarly, production capacity of NGL and other liquids will be expanded to reach around 6 mb/d by 2013.
To achieve these goals, OPEC is undertaking intensive investment plans