QatarEnergy and Japanese player extend offshore development
Qatar The five-year contract will see QPD retain operatorship of the fields and will begin on December 23, 2022.
The deal follows a production sharing agreement signed in December 2017.
The Al-Karkara and A-structures fields are located 90 kilometres east of Doha.
The Al-Karkara field was discovered in 1988. The A-Structures field was discovered in 1971 and consists of two smaller segments, the A-North and A-South fields.
QDP proved the field’s viability in the 1990s and began production in March 2006.
The plays have since produced 33.5 million barrels of oil.
QPD is a subsidiary of Japanese holding companies Cosmo Energy Holdings and Sojitz Corporation.
Cost of the transaction was not disclosed.
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