The state-run Qatar Petroleum (QP) has announced plans to increase gas production by 30 per cent from its giant North Field in next five to seven years, a move that is expected to boost total natural gas production of the country to 100mn tonnes per year by 2024
Speaking to a press conference, Saad Sherida Al Kaabi, CEO of QP, said that the proposed step has been seen to entrench Qatar’s role as a major global energy producer and supplier during the boycott by Saudi-led coalition of neighbouring countries.
Kaabi commented, “We have decided that the best option would be to double the size of the project to four billion cubic feet of gas per day. This project will strengthen our position as the world's largest LNG producer and exporter.”
In April 2017, Qatar lifted a self-imposed ban on the development of the North Field and announced a new project to develop its southern section, with an aim to increase output in the gas field over the next several years.
The giant North Field is the world's biggest natural gas field with a joint ownership between Qatar and Iran.
The announcement came after Iran signed an agreement with France’s energy giant Total to develop Iran’s part of the shared offshore gas field, which Iran called as South Pars.
Commenting on Iran’s deal, Kaabi said that Qatar will play no role in assisting Iran on any project at the North Field. However, both the countries will continue to have a joint committee meeting every year to discuss development of the field.
Qatar is looking forward to start the development expansion through a joint venture with international company.
However, due to the rising political concerns raised from the economic ban on Qatar by neighbouring countries, QP might face difficulties collaborating with international counterparts. Although, Kaabi stressed that the company will not be affected by the crisis for operations of the new project.
“Qatar Petroleum will continue working. If some companies decide they don't want to work with QP that's their choice. We will find other foreign companies to work with,” he said.
