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E & P News

2017

Jul 2017: Total will start work on the Al-Shaheen field to maintain output at 300,000 bbls per day; a development project involving US$3.5 bn in investment over 5 years.  Total acquired a 30% stake in the al-Shaheen joint venture (North Oil Co) with Qatar Petroleum in 2016, replacing Maersk.

Apr 2017: Qatar Petroleum plans to start a new development in the southern section of the North field, ending a ban since 2005 on new projects. The project will have a capacity of 20 Bcm a year and should start production in up to 7 years. It will be converted to around 15 mmtpa of LNG a year.

2016

Nov 2016: Phase 1B of the Bul Hanine redevelopment project is in pre-qualification. The workscope includes topsides for four WH platforms, one manifold platform, pipelines and umbilicals. In 2014 Qatar Petroleum announced plans for a US$10 bn redevelopment.

Oct 2016: Qatar has delayed the start-up of its Barzan Gas project because of a leak in a gas pipeline. The US$10 bn project operated by RasGas in a joint venture between Qatar Petroleum and Exxon Mobil was due to start in November. A start-up in 2016 is now unlikely.

May 2016: Maersk Oil, operator of the Al-Shaheen oil field since 1992 under a 25-year concession, faces competition from Shell, BP, Total, Chevron, and ConocoPhillips who have all submitted bids to take over the field offered by Qatar Petroleum starting in mid-2017. The field currently produces around 300,000 bbls of oil per day.

2015

Dec 2015: Qatar expects to start operations at its US$10 bn Barzan gas project in 2016 with full output the following year. The Ras Laffan 2 condensate refinery is also expected to come on stream in the fourth quarter of 2016.

Sep 2015: Development of the Al Shaheen field is progressing as planned, according to operator Maersk, with the 50-well program more than half way complete. Maersk’s current agreement is due to expire in mid- 2017.

2014

Sep 2014: RasGas announced that Train 1 of the US$10.3 bn Barzan Gas Project is ramping up for first production in Q1 2015. Train 2 will be completed by the middle of 2015. The project will produce 14 bcm of gas each year along with 30,000 bbls per day of condensate and 52,000 bbls per day of LPGs. Construction started in 2011 including 3 offshore wellhead platforms.

May 2014: Qatar Petroleum now plans to invest over US$11 bn to redevelop the Bul Hanine offshore oil field. The project includes new offshore central production facilities and a new onshore gas liquids processing facility at Mesaieed along with 150 new wells between now and the year 2028. Gas will be re-injected after extraction of liquids.

Jan 2014: Qatar Petroleum plans to spend US$7bn over 7 years to boost oil and gas production from its Bul Hanine offshore east coast field primarily by extracting condensate from re-injected gas. It currently produces 40,000 bbls per day and QP hopes to more than double output by 2020 (GS notes: optimistic considering the field came onstream in 1972).

2013

July 2013: Occidental and Qatar Petroleum have agreed on the Phase 5 Development Plan of the Idd El Shargi North Dome field (ISND) under the DPSA entered into in 1994. It will sustain oil production at 100,000 bbls per day through the next 6 years and includes over 200 additional production, water injection and water source wells. The development activities are expected to cost over US$3 bn.

Mar 2013: Qatar has discovered a large offshore gas field at the 4-North offshore block near the North Field, the world's largest non-associated gas field. This is its first new gas discovery since 1971 and was made by a consortium that includes Wintershall and Mitsui.

2012

Nov 2012: Qatar Petroleum and Total signed a Heads of Agreement on the  Al Khalij field for a further 25 years. Located 130 kms east of the coast, Al Khalij was discovered by Total in 1991 and commenced production in 1997. The Exploration and Production Sharing Agreement (EPSA), which was signed in 1989 and is due for expiry in 2014. Under the new HOA, QP will have 60% and Total, as operator, will have 40%.

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