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Qatar Petroleum has initiated an evaluation process for the selection of a partner to undertake the future development of the Al Shaheen field, as the current agreement expires mid-2017.
Maersk Oil has been operator of the Al Shaheen field since 1992 and together with Qatar Petroleum successfully unlocked the potential of the field for more than 20 years producing approx. 300,000 bopd, some 40 percent of Qatar’s daily oil production.
“We have developed an unrivalled technical experience and understanding of this complex offshore field and have a robust plan to deliver future value from Al Shaheen,” says Jakob Thomasen, CEO of Maersk Oil and continues:
“We have known that we would be challenged on terms and conditions in connection with the 2017 extension and have been awaiting more information on how Qatar Petroleum wished to go about such a process. We look forward to this opportunity to continue our partnership with Qatar Petroleum, based on our long term commitment and detailed technical knowledge.”
Maersk Oil is unable to provide further details of the process at this point.
Maersk Oil is an international oil and gas company with operated production of 550,000 barrels of oil equivalent per day. Our production comes from Denmark, the UK, Qatar, Kazakhstan, the US Gulf of Mexico, Algeria and Brazil. Exploration activities are on-going in Angola, Norway, Greenland, Kurdistan Region of Iraq and in the producing countries. Turning complex and challenging fields into commercial successes has been the cornerstone of Maersk Oil’s business since 1962. Maersk Oil focuses on pioneering technologies and harnessing talent to continue to operate safely and successfully, creating value for partners and host governments. Maersk Oil is a fully-owned subsidiary of the global conglomerate, the Maersk Group.
For more information about Maersk Oil, please visit the website at www.maerskoil.com.