Qatar Petroleum and Occidental Petroleum sign agreements

Qatar Petroleum and Occidental Petroleum signed two agreements regarding the phase II development of Idd Al Shargi north dome field (ISND) and the full field development of Idd Al Shargi south dome (ISSD) field
Occidental development of ISND followed a development and production sharing agreement (DPSA) between the government of Qatar and Occidental in 1994. The historical production of the ISND field reached 140,000 b/d in June 1998, and current production capacity is 90,000 b/d. The ISND phase II plan targets the development of 144 MMbbl of new reserves and is expected to increase the production level to 127,000 b/d in 2006 for a cost of $566 million, which Occidental will invest.
The full field development of ISSD is being implemented under a separate DPSA between Qatar and Occidental dating to 1997. Following appraisal and evaluation activities, full field development of ISSD is anticipated to increase the production level to about 17,000 b/d in 2006 with a cost of $212 million. The facilities requirement ISSD full field development will be integrated with ISND phase II facilities for maximum synergies and cost savings.
Occidental is also involved in Qatar's north field gas development through acquisition of 24.5% equity in the Dolphin project