Qatar Petroleum, Maersk Oil Qatar agree to develop Al Shaheen

Maersk Oil Qatar AS and Qatar Petroleum have concluded an agreement about Maersk Oil Qatar's further development of the Al Shaheen field in block 5, offshore Qatar.

Offshore staff

(Middle East) - Maersk Oil Qatar AS and Qatar Petroleum have concluded an agreement about Maersk Oil Qatar's further development of the Al Shaheen field in block 5, offshore Qatar.

The development plan, which is expected to involve total investments of $5 billion, comprises drilling of more than 160 production and water injection wells over the next six years and establishment of an additional three offshore platform locations with production and accommodation facilities.

The total oil production from the Al Shaheen field is expected to gradually build up from 240,000 b/d in 2006 to a level of 525,000 b/d from the end of 2009 and forward.

The concession period runs to 2017.

12/27/05

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