Qatar Petroleum, Shell, Petrochina Agreement

Wednesday, May 19, 2010

Qatar Petroleum (QP) on behalf of the Government of the State of Qatar has signed a new Exploration and Production Sharing Agreement (EPSA) with Shell and PetroChina Company Limited (PetroChina) for Qatar Block D.

The agreement was signed in Doha by His Excellency Abdulla bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industry, Peter Voser, Chief Executive Officer of Royal Dutch Shell plc, and Mr. Zhao Dong, Chief Financial Officer of PetroChina International Investment Company Limited.

Under the agreement, the partners will jointly explore for natural gas in Block D. Block D covers an area of 8,089 square kilometres onshore and offshore Qatar and is located close to Ras Laffan.

The Block D concession is for pre-Khuff geological intervals. The overlying Khuff horizon contains the super-giant North Field. Part of the Block D concession extends beneath the North Field.

The total term of this agreement is 30 years and starts with a five year First Exploration Period. During the exploration period, Shell and PetroChina will implement a work programme including exploration technical studies, 2D and 3D seismic acquisition, processing, re-processing and interpretation, and drilling a number of exploration wells to the pre-Khuff formation.

Shell, as operator, will hold a 75 per cent equity share with PetroChina holding a 25 per cent share.

In a success case, Shell and PetroChina will produce the natural gas under Qatar Petroleum’s supervision. Under the agreement QP will be the off-taker of any potential gas produced.
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1164 sec (9 req/sec)