OPEC upstream investment: Middle East growth offsets African declines
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Table of contents
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Executive Summary
- OPEC investment: US$377 billion over the next five years
- The Middle East weathered the storm
- African investment collapsed and its recovery will be slow
- OPEC production: growth driven by the Middle East
- Middle East benefits from low-cost onshore production
- Africa relies on the Majors and will need to fight for investment dollars
- Investment leads to increased OPEC capacity
Tables and charts
This report includes the following images and tables:
- OPEC capital investment in oil fields
- Deepwater pre-FID projects
- Annual average OPEC decline rates
- OPEC oil production by region
- OPEC oil produced versus reserves and unrisked resources
- 2023 cost of production (capex plus opex) by resource theme
- Majors investment by OPEC region
- Regional NOC investment by OPEC region
What's included
This report contains:
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