The global oil and gas sector needs over $20 trillion investments through the coming 25 years in order to achieve the forecasted demand growth and to compensate for the developed fields’ natural decline, said Amin Nasser, Saudi Aramco’s CEO, according to CNBC.

The global oil and gas industry had lost $1 trillion in the period between 2014 and 2016, Nasser stated during the CERAWeek conference in Houston, US, according to Asharq Al-Awsat Newspaper.

Needed investments will only come in the future if the investors are convinced that “oil will be allowed to compete on a level playing field, that oil is worth so much more, and that oil is here for the foreseeable future,” Nasser pointed out, highlighting his confidence that future demand growth and oil market fundamentals will be healthy.