Qatar Energy Project aims to develop more than 550 million barrels of oil (Al Jazeera)

Qatar Energy announced the award of 4 major contract packages for engineering, procurement, construction and installation related to the next phase of the development of the Al Shaheen offshore field, the largest oil field in Qatar, to increase production by about 100 thousand barrels per day, at a value exceeding 6 billion dollars.

According to the company’s statement, the awarding of contracts comes as part of the “Vision” project, which is considered the third phase of the development of the Al Shaheen field since the North Oil Company - a joint venture between Qatar Energy Company (70%) and Total Energies (30%) - took over the operation of the field in July 2017. .

The project aims to develop more than 550 million barrels of oil, and will be implemented over a period of 5 years, and is expected to begin production in 2027.

The project includes drilling more than 200 wells, a new central processing platform, 9 production platforms, and associated pipelines.

The value of the four packages - which include different scopes of work - exceeds $6 billion.

Qatar Energy is developing Al Shaheen field, which is one of the largest fields in the world in terms of the amount of oil in place (Shutterstock)

These packages were awarded to:

  • McDermott Middle East, Qingdao McDermott and Chuan Marine Engineering have joined forces to execute an EPC contract for 9 production platforms worth approximately $2.1 billion.

  • McDermott Middle East and Hyundai Heavy Industries have joined forces to implement an engineering, procurement and construction contract for the central processing platform worth approximately $1.9 billion.

  • Larsen & Toubro Limited to execute an engineering, procurement and construction (EPC) contract for a rising platform valued at approximately $1.3 billion.

  • China National Offshore Petroleum Engineering Corporation to implement the engineering, procurement and construction contract for pipelines and submarine cables worth approximately $900 million.

Qatar Energy announces the award of contracts worth $6 billion for a project to increase oil production from the Al Shaheen field by about 100 thousand barrels per day #Qatar_Energy⁣ #Qatar pic.twitter.com/76ACj65K9z

- QatarEnergy (@qatarenergy) January 31, 2024

Engineer Saad bin Sherida Al Kaabi, Qatari Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, considered the awarding of contract packages as an important achievement in the project to develop the largest oil field in Qatar.

He said: “By awarding these contracts, we are taking an important step towards realizing the full potential of the Al Shaheen field, which today produces about half of Qatar’s crude oil production.”

Al Shaheen field is located 80 kilometers off the coast of Qatar, and is one of the largest fields in the world in terms of the amount of oil present in the place.

Commercial production from the field began in 1994 and underwent a major development process, bringing its production rate to 300,000 barrels of oil per day in 2007.

Source: Al Jazeera