Qatar Petroleum announced its intention to raise Qatar’s LNG production from 77 million to 100 million tons per year, which means a 30% production increase. The new additional volumes will be secured by doubling the size of the new gas project in the southern sector of the North Field, which Qatar Petroleum had announced last April.
This is expected to increase the North Field’s production of natural gas, condensate and other associated products by one million barrels of oil equivalent per day.
“Last April, we announced our intention to develop a new gas project in the southern sector of the North Field that can be targeted for export. With the conclusion of further technical studies, we have decided that the best option would be to double the size of the project to 4 billion cubic feet of gas per day, which constitutes a 20% increase from the current North Field production rate, or about 1 million barrels of oil equivalent per day”, said Mr. Saad Sherida Al-Kaabi, the President & CEO of Qatar Petroleum.
Mr. Al-Kaabi also explained that this project will strengthen the country’s position as the world’s largest LNG producer and exporter in line with Qatar Petroleum’s strategic growth plan and objectives of becoming one of the best national oil & gas companies in the world, while at the same time will meet worldwide growing needs for this environmentally friendly fuel.
