Total along with the national oil company Qatar Petroleum acquired the operatorship of the Al-Shaheen offshore oil field for a period of 25 years starting July 14th, Offshore Energy Today stated.
The oil field provides 300,000 barrels per day (b/d). The operation of the concession will be handled by the North Oil Company NOC, which was established in 2017 as a partnership between Total which holds 30% and Qatar Petroleum holding the rest, the company’s website announced.
The first phase of the development plan of Al Shaheen, compromises the drilling of 56 new wells, commencing with the mobilization of the first two rigs during the summer, with a third one to be added at the beginning of 2018. Another two phases will start over the next 5 years to further develop the field.
“Joining Al-Shaheen is a major milestone and accomplishment in the long history of the Group’s partnership with Qatar, where we have been active for more than 80 years. The transition activities were conducted successfully thanks to the strong commitment of all parties and the deployment of the best expertise by both Total and Qatar Petroleum,” Chairman and CEO of Total, Patrick Pouyanné said.
In the last 25 years, the operatorship of the field has been acquired by the Danish oil company Maersk Oil, which in 2016 lost a bid to Total to keep running the field for the next 25-year term.
“Maersk has worked in this field for 25 years and has exerted great efforts in its successful development. I wish them every success, and I would also like to invite them to join hands with Qatar Petroleum in new field development opportunities, whether inside or outside Qatar,” President & CEO of Qatar Petroleum , Saad bin Sherida Al-Kaabi thanked Maersk during his speech at the inauguration event.
Al-Shaheen field is Located in Qatari waters 80 kilometers North of Ras Laffan, it started production in 1994. The current development covers 30 platforms and 300 wells. Al-Shaheen’s output represents about half of Qatar’s oil production.