Page 15 - MEOG Week 12 2021

MEOG NEWS IN BRIEF MEOG

OIL oil-based developments. “We are hoping the project could be
While Qatar’s massive expansion awarded during the second half of this year,”
OPEC+ won’t pump more oil programme on its North Field gas field is one well-informed industry source said.
The operator had last year stalled the
likely to remain at the heart of its expansion
than market can handle strategy, it is expected to continue making previous tender process for the offshore
development, delaying the EPC project by up
calculated investments in some of its key
The United Arab Emirates’ energy minister offshore oilfields — including Al Shaheen, to one year, Upstream previously reported.
said on Tuesday that OPEC+ is unlikely to Idd El-Shargi North Dome (ISND) and Bul Four leading international EPC
pump more oil than the market can handle. Hanine. players there were earlier involved in the
“I don’t think there is an idea to pump a Two people with direct knowledge of the debottlenecking tender process are also
lot of oil, more than the market can handle,” Al Shaheen tender process said that NOC — expected to queue up for the most recent
Suhail al-Mazrouei told Forbes Middle East a joint venture between French giant Total tendering exercise, a second person said.
in an interview when asked about possible and state-owned Qatar Petroleum (QP) — Those include Malaysia’s Sapura Energy,
scenarios for the OPEC+ meeting on April 1. recently issued tender documents to leading Italy’s Saipem and Rosetti Marino and French
REUTERS international offshore contractors, with player Ponticelli. In addition, some other
technical offers likely to be submitted as early leading EPC players could also be in the fray,
Iraq approves Schlumberger as next month. Upstream understands.
The offshore development project — now
Al Shaheen is Qatar’s largest oilfield and
drilling deal named as DBN-PWM — was put on hold accounts for almost half of the country’s oil
production.
by the operator last year, due to uncertain
The Iraqi cabinet on Tuesday approved a deal market conditions in the wake of coronavirus UPSTREAM
to award U.S. company Schlumberger Ltd a outbreak.
$480 million deal to drill 96 oil wells in the NOC is carrying out several offshore
south, according to a statement. upgrade projects involving the Al Shaheen GAS
REUTERS offshore field.
Total had earlier indicated that it has plans QP signs 10-year LNG supply
Qatar puts Al-Shaheen work to spend more than $2 billion on Al Shaheen deal with Sinopec
alone, which also includes the multi-phase
back on the table as tender Gallaf project that is presently in its execution Qatar Petroleum (QP), the world’s top
phase.
hatched a mid-sized scheme that envisages the setting liquefied natural gas (LNG) supplier, has
The DBN-PWM project is believed to be
signed a long-term agreement to supply
Qatar’s North Oil Company (NOC) has up of water debottlenecking offshore facilities LNG to China Petroleum and Chemical
revived a key engineering, procurement and at Al Shaheen, aimed at optimising the Corporation (Sinopec) for several years.
construction project that involves the further field’s production capacity. The development With the new deal, said to be the first in the
development of its Al Shaheen oilfield — the is aimed at removing the excessive water history of the Chinese firm, Qatar Petroleum
country’s largest offshore field. capacity on the offshore oilfield. will supply two million tonnes of LNG to
The emirate has an oil production capacity The workscope is likely to include one new Sinopec every year for a term of ten years.
ranging between 500,000 and 600,000 barrels offshore jacket and multiple modules, project The long-term purchase and sales
per day, which is minuscule compared with watchers said. agreement was signed on March 22 via an
other Persian Gulf heavyweights. In addition, offshore modification works online video conference.
However, Qatar is not a member of are also likely to be involved. China is a key and strategic energy partner
Opec and so is not bound to any potential Technical bids are likely to be submitted in for the state of Qatar, having supplied 62
agreement to curb its oil output, giving it April, followed by a commercial submission million tonnes of LNG to China since 2009.
more flexibility to continue spending on key due in June. “This cooperation will further enhance

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