2.0 million b/d of spare capacity. Now, I would like to give you some specifics on what Saudi Arabia is doing to help meet the world's future oil needs. The Kingdom currently has sustainable crude production capacity of about 11 MBD, which includes a spare capacity cushion of about 1.5 MBD In addition, Saudi Arabia has initiated a number of mega oil projects which will significantly increase its production capacity to both meet demand and maintain spare capacity. These projects represent a combined production capacity of more than 3 MBD, part of which will be utilized to offset natural decline and the rest to expand capacity. By 2009, we expect our maximum sustainable capacity to rise from the current 11.0 million b/d to 12.5 million b/d. --More 1939 Local Time 1639 GMT
