Qatar Petroleum to take over Occidental oilfield
DOHA, October 15, 2018 – Qatar Petroleum (QP) will take over operatorship of one of the country’s key oil assets next year when a development contract held by Occidental Petroleum expires, local media reported on Sunday.
The NOC will manage and operate the Idd Al Shargi North Dome oilfield starting in October 2019, when Occidental Petroleum of Qatar’s development and production-sharing agreement expires. The agreement was signed in 1994.
“Managing and operating this important oil field showcases Qatar Petroleum’s distinctive technical capabilities in operating and managing oil and gas fields, and maximises the value for the state,” QP CEO Saad Sherida Al Kaabi said following the announcement.
“It also further enhances our efforts to implement our ambitious growth plan designed to set Qatar Petroleum firmly on the road to becoming the best national oil and gas company in the world.”
The Idd Al Shargi North Dome is in its fifth phase of development, known as ISND-5, with QP and Occidental Petroleum collaborating on the project. The project is designed to sustain the field’s production at 100,000 bopd.
In July 2017, Occidental issued a tender for subsea and platform work. In September 2017, international media reported that at least four major EPC contractors were in competition for an offshore package that included engineering, procurement, construction, transportation and installation of subsea pipelines and associated risers, J-tubes and umbilicals, as well as transportation and installation of a conductor-supported platform.