Saturday, September 23, 2017

Total to Maintain 300,000 bpd Output from Al Shaheen Oilfield

Posted by July 11, 2017

Total CEO Patrick Pouyanne aims to maintain production of 300,000 barrels a day from the Qatari offshore Al Shaheen oilfield for "many years", he said on Tuesday.

Pouyanne was speaking at a news conference in the Qatari capital Doha to mark the inauguration of North Oil Company (NOC) as the new operator and developer of Al Shaheen, taking over from Denmark's A.P. Moller-Maersk.

Total won a 30 percent stake in Qatar's largest offshore oil field last year. State-owned Qatar Petroleum (QP) is keeping the remaining 70 percent in the new joint venture for the field.

QP's Chief Executive Saad al-Kaabi said that Total had given the best offer for the field last year and that the new contract would bring Qatar more revenue than the previous deal.

(Reporting by Tom Finn; Writing by Maha El Dahan)

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