Print Edition - 2017-04-04  |  Money Digest

Qatar Petroleum to boost output


Apr 4, 2017-

Energy giant Qatar Petroleum is to launch a new project in the world’s biggest gas field, boosting its output by up to 10 percent, it said Monday. The state-owned firm’s chief Saad Al-Kaabi said it was ending a 12-year moratorium on new projects in the North Field, off the Gulf state’s northern coast. “Qatar Petroleum’s technical studies and assessment of the North Field have confirmed the potential for developing a new gas project,” he said. The project will produce around two billion cubic feet (57 million cubic metres) of gas per day for export, boosting Qatar’s output by about 400,000 barrels of oil equivalent per day, he said. Kaabi told journalists in Doha that the project would strengthen Qatar’s position as a major player in the global gas industry. The moratorium on new projects in the North Field had been in place since 2005 as experts assessed the long-term impacts of developing the field. 

Published: 04-04-2017 09:54

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