Qatar lifts North field moratorium to increase output by 10%
Qatar Petroleum has ended its self-imposed moratorium on the North field, announcing plans for a new gas project in the field’s southern sector.
DOHA, Qatar– Qatar Petroleum (QP) has ended its self-imposed moratorium on the North field, announcing plans for a new gas project in the field’s southern sector. Work should begin over the next few months.
“Qatar Petroleum’s technical studies and assessment of the North field have confirmed the potential for developing a new gas project that can be targeted for export with a capacity of about 2 bcf/d,” said QP President and CEO Saad Sherida Al-Kaabi. “It is worth noting that a project of this size will increase the current production of the North field by about 10%, which will add about 400,000 boe/d to the State of Qatar’s production.”
The Persian Gulf field is located in the territorial waters of both Qatar and Iran, where it is called South Pars. QP says the 6,000-sq km (2,317-sq mi) field has total recoverable gas of more than 900 tscf. Discovered in 1971, it has been said to be the largest single non-associated gas reservoir in the world.
Qatar’s government placed a moratorium on the field’s development more than a decade ago to allow for a study of the then-quickly increasing production rates on North’s reservoirs.
“Since 2005, Qatar Petroleum has been conducting extensive studies and exerting exceptional efforts to assess the North field, including drilling a number of appraisal wells to better estimate the field’s production potential, which enabled us to reach this satisfactory result today,” Al-Kaabi said.
He concluded his remarks by stating: “This new project will further strengthen Qatar’s leading position as a major player in the global gas industry and underline the pivotal role of the country’s oil and gas industry as the mainstay of the national economy.
“This, in turn, will contribute to and stimulate the economy in both the public and private sectors as part of the comprehensive development of the country and the achievement of the objectives of Qatar National Vision 2030.”