The expansion in production volumes will be met by doubling the size of the new gas project in the southern sector of the North Field.
The project 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.
In April, the company said that it would develop a new gas project in the North Field to boost Qatar’s gas production capacity by 2 billion cubic feet per day.
Qatar Petroleum president and CEO Saad Sherida Al-Kaabi said: “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.”
Al-Kaabi said that the gas project would boost the country’s position as the world's largest LNG producer.
The new gas project is expected to start production within the next five to seven years.
Al-Kaabi added: “This new project will further enhance Qatar's leading position in the global gas industry, while at the same time meeting its worldwide customers’ growing needs for this reliable and environmentally friendly fuel.”
Image: The new gas project is expected to start production within the next five to seven years. Photo: courtesy of supakitmod/Freedigitalphotos.net.
