Page 10 - MEOG Week 44 2022

MEOG PROJECTS & COMPANIES MEOG

QatarEnergy makes ConocoPhillips

its final foreign partner in NFS

QATAR QATARENERGY has named ConocoPhillips deal, saying: “As we have previously emphasised,
(US) as its third and last foreign partner in the LNG produced from the North Field expansion
North Field South (NFS) expansion project, projects will have the lowest carbon emission
which is designed to lift Qatar’s LNG exports by levels in the world, thanks to the deployment of a
16mn tonnes per year (tpy) by increasing output number of technologies, including extensive use
at the offshore North field. of carbon capture and sequestration technolo-
The two companies formalised the deal on gies. This will enable our LNG to play an impor-
October 30 at a ceremony in Doha. Saad Sherida tant role in supporting a pragmatic, equitable
Al-Kaabi, QatarEnergy’s president and CEO, and and realistic energy transition.”
Ryan Lance, the US independent’s CEO, signed NFS is the second phase of an ongoing move
the agreement on behalf of their companies. to boost output at North, the Qatari section of a
The document gives ConocoPhillips a 6.25% massive offshore natural gas field in the Persian
working interest in NFS, while QatarEnergy, the Gulf. (The Iranian section, located on the other
operator of the project, will retain a majority 75% side of the maritime boundary between the two
stake. The remaining 18.75% of equity is split countries, is known as South Pars.) It will involve
equally between TotalEnergies (France), which the installation of five new production platforms,
joined the project in late September, and Shell the drilling of 50 new wells and the laying of new
(UK), which joined in late October. pipelines to link the field to onshore facilities.
Al-Kaabi, who also serves as Qatar’s minister Additionally, it calls for the building of the two
of state for energy affairs, hailed ConocoPhillips’ new LNG production trains, each with a capacity
inclusion in the NFS project. “QatarEnergy and of 8mn tpy, that will be served by the pipelines.
its partners continue their efforts to supply an ConocoPhillips also has a 3.12% stake in the
additional volume of about 65mn tonnes of LNG first phase of the expansion programme, known
annually from its North Field expansion projects as North Field East (NFE). The other foreign
and the Golden Pass LNG project to the global partners are Shell, Eni (Italy), ExxonMobil (US)
market to meet growing demand for cleaner, and TotalEnergies. Together, the NFS and NFE
low-carbon energy, and to enhance energy secu- schemes aim to boost gas production at North
rity of customers around the world,” he said. so as to bring Qatar’s LNG production capacity
He also stressed that the partners were seek- up to 126mn tpy, a rise of 48mn tpy or 61.5% on
ing to minimise the emissions intensity of the current levels of 78mn tpy.™

P10 www. NEWSBASE .com Week 44 02•November•2022