Qatar Petroleum plans to develop a new gas project in the southern sector of the North Field and that it will commence work on the project’s details over the next few months, said the company’s president and CEO Saad Sherida Al-Kaabi.

"Qatar Petroleum’s technical studies and assessment of the North Field have confirmed the potential for developing a new gas project that can be targeted for export with a capacity of about two billion cu ft per day,” Al-Kaabi explained.

“It is worth noting that a project of this size will increase the current production of the North Field by about 10 per cent, which will add about 400,000 bbl/d (barrels per day) of oil equivalent to the State of Qatar’s production.”

"Since 2005, Qatar Petroleum has been conducting extensive studies and exerting exceptional efforts to assess the North Field, including drilling a number of appraisal wells to better estimate the Field’s production potential, which enabled us to reach this satisfactory result today,” Al-Kaabi added.

"This new project will further strengthen Qatar's leading position as a major player in the global gas industry and underline the pivotal role of the country's oil and gas industry as the mainstay of the national economy.

“This, in turn, will contribute to and stimulate the economy in both the public and private sectors as part of the comprehensive development of the country and the achievement of the objectives of Qatar National Vision 2030,” Al-Kaabi concluded. – TradeArabia News Service