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Investment boost for Qatar Al-Shaheen field

20 Dec 2012, 3.05 pm GMT

Investment boost for Qatar Al-Shaheen field

Dubai, 20 December (Argus) — State-owned Qatar Petroleum (QP) and Denmark's Maersk Oil have agreed to investment a further $1.5bn into Qatar's largest producing oil field Al-Shaheen.

“As part of the current production sharing agreement between Qatar Petroleum and Maersk Oil to develop the Al-Shaheen oil field, a new field development plan (FDP 2012) was approved in November 2012,” Maersk Oil told Argus, today.

Al-Shaheen operator Maersk completed a $6.2bn expansion at the field this year, drilling the last of 169 wells committed under a development programme agreed in 2005. Current output of 300,000 b/d is higher than production of 220,000 b/d at the end of 2005, but well below the 525,000 b/d capacity originally planned.

The latest field development plan aims at optimising recovery and maintaining a stable production plateau from the Al-Shaheen field, Maersk said. FDP 2012 includes the drilling of 51 new wells and some facility debottlenecking activities. It declined to comment on what the envisaged plateau production will be and how long this plateau will last.

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