Oil & Gas Qatar awards contracts for oilfield expansion By Eva Levesque February 1, 2024, 1:34 PM Reuters/Mohammed Dabbous QatarEnergy CEO and Qatari minister of energy Saad Sherida al-Kaabi. Qatar wants to increase Al Shaheen’s production capacity by 100,000 bpd Al Shaheen third phase Contracts worth $6bn 100,000 bpd boost QatarEnergy has awarded contracts worth $6 billion for the third development phase at its largest oilfield, Al Shaheen. The deals are part of the Ru’ya project, designed to increase Al Shaheen’s production capacity by about 100,000 barrels per day. The third phase is intended to produce 550 million barrels of oil over five years, with the first oil expected in 2027, QatarEnergy said in a statement. QatarEnergy signs 5-year crude supply deal with Shell Italy forced to wait as Qatar reroutes LNG vessels The big deals that shaped oil and gas in 2023 Located 80 kilometres north-east offshore of Ras Laffan, the field is operated by North Oil Company, a joint venture between QatarEnergy, with a 70 percent interest, and the French energy giant TotalEnergies retaining 30 percent. Qatar, the world’s second-biggest liquefied natural gas exporter, is a minor oil producer. Al Shaheen’s output has peaked at 300,000 bpd since 2022. The field accounts for about half of the country’s crude production, Qatar energy minister Saad Al Kaabi said in the statement. The plan’s third phase includes drilling more than 200 wells and the installation of a new centralised process complex, remote wellhead platforms and associated pipelines, QatarEnergy added. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
