Recipients of The Oil & Gas Year 2013 Awards during a ceremony at the InterContinental Hotel yesterday. (Shaival Dalal)
DOHA: Qatar is currently working on a number of projects aimed at adding the value of Qatar’s energy industry. On upstream, Maersk Oil’s development plan for unlocking the further potential of Al Shaheen’s difficult reservoirs has been approved by Qatar Petroleum (QP). For Al Khalij field, a new exploration and production-sharing agreement will extend the partnership between QP and Total for another 25 years, Issa Al Ghanim, Director, Strategic Planning & Policy at QP said here yesterday.
For exploiting the full potential of Al Shaheen, the field will see investment of more than $1bn. The investment is aimed at sustaining production rates of some 300,000 barrels of oil per day, he said while addressing the event that marked the launch of the annual The Oil & Gas Year Qatar 2013.
In another parallel development, Al Ghanim noted, a comprehensive plan is currently being implemented to raise the productivity of QP-operated oil fields. The plan includes Bul Haniane Field redevelopment Project aiming to completely redevelop the field, replacing a major portion of the offshore facilities and adding new onshore facilities.
Bul Haniane redevelopment is expected to double the field’s current production ate from 40,000 to 90,000 barrels of oil per day and extend the life of the field by over 25 years with an initial investment of $10 to $13bn.
The project execution is expected to take 6 to 8 years from the start of construction. A similar plan is being formulated for Dukhan which will significantly reduce the forecast production decline rate.
Downstream, Qatar has consolidated its position worldwide by launching Muntajat. This new venture will market and deliver a range of petrochemicals and fertilizer products to our clients worldwide.
“More investments in petrochemicals are expected. HE, the Minister of Energy and Industry Dr Al Sada, has indicated Qatar’s ambition to produce 23 million tones of petrochemicals a year by 2020”, he recalled.
Al Ghanim said QP is developing Al Karaana petrochemicals complex with Shell and Al Sejeel complex together with QAPCO. These ventures have been enabled by the timely execution of the Barzan gas project. This will channel ethane gas from the prized North Field to these petrochemicals complexes.
On QP’s commitment to sustainable development, Al Ghanim said :”We always strive to develop in a sustainable manner… In the oil and gas industry, our own commitment to future generations is evident. Through LNG and GTL, Qatar is supplying clean fossil fuels to more than 20 countries worldwide”.
The QP is working hard to limit the impact of energy industry on the environment. At Ras Laffan, the Jetty Boil-Off Gas recovery project is the largest such project in the world at a cost of more than a billion dollars. The project will recover 600,000 tonnes of natural gas and reduce carbon dioxide emissions by 1.6 million tones per year. Qafac’s carbon dioxide recovery project will see 500 tonnes of CO2 annually captured and re-injected into the production cycle for greater output of methanol.