Qatar to invest $3bn to double reserves

Qatar plans to double crude output at the Al Shaheen oilfield to 450,000 barrels per day (bpd) from a current 240,000 bpd by 2008-09, Qatari Oil Minister Abdullah bin Hamad Al Attiyah said.

Qatar plans to invest some $3 billion during the next development stage to double reserves and production, Attiyah said.
In April 2004, Qatar Petroleum signed a $30 million agreement with Denmark-based A P Moller-Maersk Group for further exploration at Block-5 at Al Shaheen. Maersk is an equity co-producer at the field.
Production and water injection is currently under way at six locations in Al Shaheen, while 18 platforms, including process, wellhead and accommodation platforms, are operational, Attiyah said.
Development work at Al Shaheen is necessary given the deteriorating quality of the fields heavy, sour crudes.
QP and Maersk have invested $2 billion since 1992 in the field, Attiyah said.