BEIRUT

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Qatar Petroleum to spend $11B on offshore field

DUBAI: State-owned Qatar Petroleum said it would invest over 40 billion Qatari riyals ($11 billion) to redevelop the Bul Hanine offshore oil field to prolong its life and increase its output.

The field off Qatar’s east coast currently produces around 40,000 barrels per day of crude oil, and QP hopes to more than double output to 90,000 bpd by 2020, industry sources told Reuters earlier this year.

“The magnitude of this investment reflects the extent of project scope that includes new offshore central production facilities and a new onshore gas liquids processing facility at Mesaieed. This will be marked by a massive drilling campaign of about 150 new wells between now and the year 2028,” the company said in a statement Friday.

It added that new wells would be drilled from the existing and modified well-head jacket, as well as from 14 new well-head jackets.

The project includes the expansion of a QP-owned processing plant at Mesaieed to help collect some 900 million cubic feet of sour gas per day.

The gas will go through a 150 km underwater pipeline and be used to make jet and vehicle fuels. The dry gas will then be pumped back under the Gulf to boost recovery rates.

 
A version of this article appeared in the print edition of The Daily Star on May 10, 2014, on page 4.

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