Qatar Petroleum to take over operatorship of giant Al-Shaheen offshore oil field
Qatar Petroleum has announced that North Oil Company has successfully completed all transition activities to take over the operation of the giant Al-Shaheen oil field on Friday, July 14, 2017 – the day of the expiry of the exploration and production sharing agreement between Qatar Petroleum and the Field’s former operator, Maersk Oil.
Under the new contractual arrangements that were put in place in June 2016, NOC has been licensed the rights to the development and operation of Al-Shaheen oil field for the next 25 years.
North Oil Company was established a year ago as a partnership between a wholly owned affiliate of QP (70%) and a wholly owned affiliate of Total (30%) to develop and operate Al-Shaheen oil field.
Al-Shaheen oil field is located in Qatari waters 80 kilometers north of Ras Laffan with facilities consisting of 33 platforms and close to 400 wells.
Currently producing about 300,000 barrels of oil per day, Al Shaheen is Qatar’s largest offshore oil field and one of the largest offshore oil fields in the world. ■