Qatar Petroleum (QP) has plans to spend around US$7bn over the next seven years to boost crude oil and gas condensate production from its offshore Bul Hanine, according to a report
The field off Qatar’s east coast currently produces around 40,000 bpd of crude oil and QP hopes to more than double output to 90,000 bpd by 2020, company sources said.
While the total cost of boosting crude production and capturing the condensate is expected to be around US$7bn, the total cost of the wider project, including refinery expansion work, could reach US$12bn, according to Reuters.
Over the past few years, QP had been reportedly receiving technical advice from French energy firm Total on how to get more out of the ageing Bul Hanine field, which began production in 1972.
“Total has been undergoing a feasibility study on the field and that should be finalised in the coming month,” one source familiar with the matter said.
As part of the project, a QP-owned gas processing plant at Mesaieed will be expanded to help collect the condensate, which can be used to make jet and vehicle fuels.
