Qatar Petroleum Invites Bids for Al-Shaheen Oil Field Operation and Development

Doha, May 06 (QNA) - Qatar Petroleum (QP) has issued invitations to a group of leading international oil & gas companies to compete for the future operation and development of Al-Shaheen oil field starting in mid-2017. The date marks the expiration of QPs existing Al-Shaheen exploration and production sharing agreement with Maersk Oil of Denmark. Maersk Oil is among the companies invited to compete for the future development and operation of Al-Shaheen Field. Saad Sherida Al-Kaabi, President and CEO of Qatar Petroleum said "The future operation and development of Al-Shaheen oil field is of critical strategic importance to the optimum exploitation of the natural resources of the State of Qatar. Therefore, the selection of our partner in this endeavour will be based on such partners ability to offer the best technological solutions for the fields development combined with the best financial return to the State". Al-Shaheen oil field, located 80 km off Qatar's shores, is one of the largest oil fields in the world and the largest oil producing field in Qatar. The field currently produces around 300,000 barrels of oil per day; and is operated by Maersk Oil Qatar under a 25-year exploration and development agreement put into effect in 1992. Qatar Petroleum (QP) is a state-owned corporation established by Decree Law No. 10 in 1974. It is responsible for all phases of the oil and gas industry in the State of Qatar. The principal activities of QP, its subsidiaries and joint ventures are the exploration, production, local and international sale of crude oil, natural gas and gas liquids, liquefied natural gas, refined products, synthetic fuels, petrochemicals, fuel additives, fertilizers, steel and aluminium. The operations and activities of QP and its affiliates are conducted at various onshore locations, including Doha, Dukhan and the Mesaieed and Ras Laffan Industrial Cities, as well as offshore areas, including Halul Island, offshore production stations, drilling platforms and the North Field. (QNA)