Oil producers in the Middle East and North Africa plan to invest a total of $740 billion on their energy projects until 2017, a report by Arab Petroleum Investments Corporation said.
High oil prices will allow the oil producing companies to resume projects that were delayed at the height of the financial crisis.
APICORP's report covered projects in the oil, gas, petrochemicals and power industries which are likely to see final investment decisions being taken.
The report selected the developments from more than 200 planned and announced public and private projects in the region estimating in size from $100 million to $20 billion.
Countries in the region can finance projects on their own as long as the basket of OPEC crude stays at more than $100 a barrel, the report said. The OPEC crude price exceeded $106.99 on October 4.