Middle East Economic Survey

VOL. LII

No 13

30-Mar-2009

Oil Production Capacity Expansion

By Ali Naimi

The following article is an edited version of a keynote address made by Saudi Arabian Minister of Petroleum and Mineral Resources Ali Naimi to the 4th OPEC International Seminar in Vienna on 18 March.

The oil industrys time-intensive nature demands planning horizons stretching across multiple decades. Furthermore, these time windows must be supported by massive amounts of capital to finance...