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QatarEnergy, the state-owned oil and gas producer, has awarded $6 billion worth in engineering, procurement, and construction (EPC) contracts to increase production at its Al Shaheen field by 100,000 barrels per day (BPD).
A $2.1 billion package has been awarded to a consortium of McDermott Middle East Inc., with offices in Jebel Ali and Doha, and the China-based Qingdao McDermott Wuchuan Offshore Engineering Co.
An EPC package valued at $1.9 billion has been awarded to a consortium of McDermott Middle East Inc. and Hyundai Heavy Industries, while $1.3 billion contract for a riser platform has been awarded to Larsen & Toubro Limited.
A fourth $900 million EPC package for subsea pipelines and cables has been awarded to China Offshore Oil Engineering Co.
The development is the third phase earmarked for Al Shaheen, Qatar’s largest offshore field, since North Oil Company - a joint venture between QatarEnergy (70%) and TotalEnergies (30%) - took over its operations in July 2017 under Project Ru’ya.
The project, which will develop more than 550 million barrels of oil, will be executed over a period of five years, with first oil expected in 2027, according to QatarEnergy.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said Al Shaheen field produces around half of Qatar’s crude oil today.
(Writing by Bindu Rai, editing by Seban Scaria)
