QP in talks with Maersk to extend Al-Shaheen deal
- Qatar: Sunday, September 23 - 2012 at 09:04
Qatar Petroleum is in talks with Denmark's Maersk Oil to extend a production sharing contract for the offshore Al-Shaheen oilfield by another 13 years to 2030, Reuters has reported, citing industry sources. Crude production at the field could rise to 400,000 barrels per day (bpd) in 2017 from the current 300,000 bpd, one source said, with new equipment such as a floating storage and offloading unit (FSO) possibly being installed if the contract is extended. The field, which produces a heavy sour grade popular with Asian refiners, has been capable of producing 525,000 bpd since Maersk Oil completed an expansion project in 2010, but its output has been capped at 300,000 bpd to extend its life and meet Opec quotas, the sources said.
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