QatarEnergy has awarded $6bn (QR21.84bn) worth of contracts for the next development phase of the offshore Al-Shaheen field.
The engineering, procurement, construction and installation (EPCI) contract packages aim to boost production at the field by approximately 100,000 barrels of oil per day (bpd).
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This investment is part of Project Ru’ya, marking the third development phase since the North Oil Company took control of the field’s operations in 2017.
North Oil Company is a JV between QatarEnergy (70%) and TotalEnergies (30%).
The execution of Project Ru’ya is set over five years, with first oil expected in 2027.
QatarEnergy said the project’s scope includes drilling more than 200 wells, installing a new centralised process complex, nine remote wellhead platforms and related pipelines.
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By GlobalDataThe four main EPCI contract packages have been distributed among international consortia.
A $2.1bn contract for nine wellhead platforms was awarded to a consortium of McDermott Middle East and Qingdao McDermott Wuchuan Offshore Engineering.
A $1.9bn contract for a central processing platform went to McDermott Middle East and Hyundai Heavy Industries.
Additionally, Larsen & Toubro secured the $1.3bn contract for a riser platform, while China Offshore Oil Engineering Company was awarded the $900m contract for subsea pipelines and cables.
The Al-Shaheen field, located 80km offshore Qatar, is said to be one of the world’s largest in terms of oil reserves.
Since commercial production started in 1994, the field has undergone significant developments, achieving an oil production rate of 300,000bpd by 2007.
QatarEnergy president and CEO Saad Sherida Al-Kaabi said: “By awarding these contracts, we are taking an important step towards realising the full potential of Al-Shaheen field, which produces around half of Qatar’s crude oil today.
“I would like to thank North Oil Company and our longtime strategic partner TotalEnergies for their great efforts towards unlocking the true potential of Qatar’s hydrocarbon resources and maximising value from Al-Shaheen field through the implementation of world-class development and operational excellence programmes.”
