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May 11, 2014

Qatar Petroleum to invest $10.7bn in Bul Hanine offshore field

State-run Qatar Petroleum will re-develop the Bul Hanine offshore oil field with an investment of QAR40bn ($10.7bn) to extend its life and increase its output.

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State-run Qatar Petroleum will re-develop the Bul Hanine offshore oil field with an investment of QAR40bn ($10.7bn) to extend its life and increase its output.

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With the investment on the field off Qatar’s east coast, the company expects to produce 90,000bpd of crude oil by 2020, while it currently produces around 40,000bpd, reported Reuters.

Qatar Petroleum said that the magnitude of this investment reflects the scope of the project, which includes new offshore central production facilities and a new onshore gas liquids processing facility at Mesaieed.

The company said: "This will be marked by a massive drilling campaign of about 150 new wells between now and the year 2028."

The key reservoir and field-wide studies have been undertaken, including seismic surveys, in order to re-assess the reserves and the long-term production prospects for each field.

In addition, the new wells will be drilled from the existing and modified well-head jacket, as well as from 14 new well-head jackets.

"In addition, the new wells will be drilled from the existing and modified well-head jacket, as well as from 14 new well-head jackets."

All well-head stream fluids will be processed in the new offshore central complex, comprising production, compression, utility and living quarter platforms, with topside weights ranging from 4,000t to 14,000t.

Minister of Energy and Industry and Qatar Petroleum chairman H.E. Dr Mohammed bin Saleh Al-Sada said: "This important project is part of a development and production strategy based on maximum recovery of reserves through the longest possible plateau of sustainable production levels.

"It will help boost Qatar’s oil production capacity and reinforce its position as a reliable energy provider."


Image: The redevelopment is part of a comprehensive plan currently being implemented to raise the efficiency of the producing fields. Photo: courtesy of freedigitalphotos.net/num skyman.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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