Qatar Petroleum plans to invest over 40 billion QAR

Posted by Joseph R. Fonseca
Monday, May 12, 2014
Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry and Chairman of QP


Qatar Petroleum (QP) announced plans to invest over 40 billion Qatari Riyals (QAR) in the re-development of the existing Bul Hanine offshore oil field located about 120 kilometers to the east of the Qatari coastline.

The project, which is currently at the pre-FEED stage, is one of the largest to be managed and executed by QP. It is designed to prolong the field’s life by countering its production decline and doubling its current oil production rate.

Commenting on the redevelopment plans, H.E. Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry and Chairman of QP, said: “This important project is part of a development and production strategy based on maximum recovery of reserves through the longest possible plateau of sustainable production levels. It will help boost Qatar’s oil production capacity and reinforce its position as a reliable energy provider.”

H.E. Dr. Al-Sada expressed pride in what has been achieved so far in the development of Qatar’s oil & gas fields and assets. He said “Qatar Petroleum’s excellent track record in managing and executing mega projects over the years and the experience it has accumulated throughout will pave the way for the successful execution of this important and strategic project.”

His Excellency pointed out that “the Bul Hanine redevelopment constitutes another step in the utilization of Qatar’s hydrocarbon wealth and is consequently a key element in the implementation of the Qatar National Vision as launched and guided by His Highness Sheikh Tamim Bin Hamad Al-Thani, the Emir of the State of Qatar.”

“In addition to sustaining economic growth and providing financial stability, this re-development is also an important step towards building the capabilities of local resources by providing a unique experience opportunity for Qatari engineers,” H.E. Dr. Al-Sada concluded. 

QP is implementing a redevelopment program for its oil fields, which were originally developed with older technology, in order to ensure steady production levels. Major reservoir and field-wide studies have been undertaken – including seismic surveys – in order to re-assess the reserves and the long-term production prospects for each field. This has been carried out using Improved Oil Recovery Techniques and Full Field Redevelopment Plans, as well as the latest cutting-edge technology and powerful computer modeling and processing.


Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Sea Truck's DP3 Construction Ship Passes Sea Trials

Sea Trucks has completed sea trials of the DP3 offshore construction vessel Jascon 18 in Singapore. Jascon 18 features a 1,800-metric-ton crane, 1,800 sq m deck and a 750-metric-ton pipelay system.

Royal Thai Navy Orders Harbor Tug

The Royal Thai Navy has ordered a new 32-meter tug from shipbuilder Italthai Marine Limited of Thailand, announced the vessel’s designer, Robert Allan Ltd.   Italthai Marine,

Eni Arctic Service Rig Extension Okayed

Italian oil company Eni has received permission from Norway's Petroleum Safety Authority to extend the use of a service rig on its troubled Arctic Goliat oil field offshore Norway until Nov.


Former Shipping Execs Indicted on Price-fixing

Three former executives of ocean freight shipping firms have been indicted for participating in a long-running price-fixing conspiracy, the U.S. Justice Department announced.

Vigilance Still Crucial in Indian Ocean

Organisations representing the global shipping and oil industry have announced that the size of the ‘High Risk Area’ for piracy in the Indian Ocean has been

USS Fort Worth Completes CARAT Exercise with Bangladesh Navy

The littoral combat ship USS Fort Worth (LCS 3) completed its first Cooperation Afloat Readiness And Training (CARAT) exercise with Bangladesh in the Bay of Bengal, Oct.


Amid Commodity Crisis, LPG Emerges as Accidental Bright-spot

Liquefied Petroleum Gas, long a niche product used by the poor to cook and the rich to barbecue, has become a rare bright spot amid a broad commodities rout, riding

Collision Course with a Hurricane: How Doomed US Ship Met its End

The ill-fated U.S.-flagged El Faro cargo ship sunk by Hurricane Joaquin was sailing at near full speed into the center of the storm before it lost propulsion amid mountainous waves and brutal winds,

Cordero Reconfirmed as FMC Commissioner

Mario Cordero was reconfirmed today as a U.S. Federal Maritime Commissioner.   Cordero joined the Federal Maritime Commission (FMC) as a Commissioner on June 3,

Offshore Energy

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Oil Spill Statfjord North Sea Field - Statoil

Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said.

MacGregor Wins Deck Machinery Order in China

MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five

Seismic Vessel Tech

Rieber Amends Dolphin Deal

Norwegian shipping company GC Rieber Shipping ASA has entered into an agreement with Dolphin Geophysical to increase Dolphins competitiveness in a challenging market.

Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.3969 sec (3 req/sec)