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Qatar to increase crude production, capacity: QNB
- Qatar: Thursday, November 08 - 2012 at 10:27
According to a report by Qatar National Bank (QNB), the country's crude production and capacity is set grow in the medium term, thanks to higher investment and development programmes, Gulf Times has reported. Qatar Petroleum has budgeted $6.6bn in its 2010-14 development plan for investment in crude oil projects. This followed the signing of a number of "technical service agreements" with international oil majors in 2008-09 to appraise fields and lay out development plans. Qatar has one onshore field at Dukhan in the west of the country, which produced around 230,000 bpd of crude oil in May 2012, while the remainder of crude oil production is from offshore fields, particularly from Al-Shaheen, which currently produces 300,000 bpd.
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