|
|
Qatar Petroleum and Maersk Oil Qatar Agree on Further Development
Qatar Petroleum and Maersk Oil Qatar Agree on Further Development of the Al Shaheen Field, Offshore Qatar
Qatar Petroleum and Maersk Oil Qatar have today agreed on a new plan for further development of Al Shaheen Field in Block 5, offshore Qatar. The agreement will be signed today by HE Abdullah Bin Hamad Al-Attiyah, Second Deputy Prime Minister and Minister of Energy and Industry of Qatar, and Mr. Thomas Thune Andersen, President and CEO of Maersk Oil at a ceremony to be held in Doha.
The 2005 Al Shaheen Field Development Plan (2005 FDP) has been prepared in close co-operation between Maersk Oil Qatar and Qatar Petroleum. The work will commence immediately and continue through the next six years.
The 2005 FDP comprises of drilling of more than 160 additional production and water injection wells during the 6-year period, as well as establishment of three further offshore platform locations with production and accommodation facilities – 19 new platforms in total - interconnected by subsea pipelines.
The field will continue to be developed by utilizing state-of-the-art horizontal wells, where many wells in the past have been drilled to world record horizontal length. Also, many technical limits are being exceeded - drilling speed, for example, is continuously improved to minimize the time it takes to complete a well.
The Al Shaheen field oil production will be gradually increased from 240,000 barrels/day in first quarter 2006 to a plateau level of 525,000 barrels/day from late 2009.
As part of the 2005 FDP, Maersk Oil Qatar will also build and operate additional facilities for gathering and delivery of associated gas to Qatar Petroleum for utilization at their onshore plants.
The further development activities are expected to constitute an aggregate investment in the order of USD 5 billion. Previous investments in this field amounted to about USD 2 billion.
The Al Shaheen field has been appraised and developed by Maersk Oil Qatar since 1992 under an Exploration & Production Sharing Agreement (EPSA) with Qatar Petroleum. Oil production from the field commenced in 1994 initially from temporary offshore facilities. In 1998 these were supplemented by permanent production facilities at three locations. In 2004 the facilities were expanded with three additional platform locations in accordance with the previous field development plan from 2001.
Contact persons: Partner Thomas Thune Andersen, tel. +45 33 63 38 00, and Senior Vice President Anders Würtzen, Mærsk Olie og Gas AS, tel. +45 33 63 38 80.
|
|
|
Archive
|