Qatari state-owned firm Qatar Petroleum (QP) has announced the successful completion of the integration of SEEF Limited’s (SEEF) operations into QP.
The integration comes ahead of the original deadline, which was set at the end of second quarter of this year.
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According to the company, the move is part of the ongoing efforts of the company to strengthen its position in the downstream sector.
With this integration, QP Operations (Refining) is taking full ownership over SEEF’s facilities.
QP also noted that the integration would not bring any change to SEEF’s brand, and that the brand will remain in place.
The company’s efforts until now have reconfirmed the benefits of integrating the two companies, allowing it to build advanced operations by extracting synergies between QP refining operations and SEEF. This will further enable the company to strengthen its resources, talents and capabilities.
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By GlobalDataQatar Petroleum noted that the SEEF integration allows QP to move another step closer towards achieving the company’s aim to serve as one of the best national oil companies in the world.
It also enables the reinforcement of sustainable economic growth in Qatar.
In February last year, Qatar Petroleum signed agreements worth more than QR9bn ($2.47bn) with international oil and gas firms as part of a localisation programme to boost the domestic energy industry and reduce dependence on imports.
In the same month last year, Qatar Petroleum and ExxonMobil approved an investment of more than $10bn to develop the Golden Pass liquefied natural gas (LNG) export project located in Sabine Pass, Texas, US.
