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Qatar Petroleum to Manage & Operate ISND Offshore Field Next Year

Source: www.gulfoilandgas.com 10/14/2018, Location: Middle East

Qatar Petroleum announced that it will manage and operate the Idd El-Shargi North Dome (ISND) field following the expiry of the Development & Production Sharing Agreement (DPSA) with Occidental Petroleum of Qatar on October 6, 2019.

Qatar Petroleum and Occidental Petroleum of Qatar signed the DPSA in 1994 for the management and operation of the Idd El-Shargi field north dome. The field was discovered in 1960 and lies 85 kilometers off the eastern coast of Doha.

Commenting on this announcement, Mr. Saad Sherida Al-Kaabi, the President and CEO of Qatar Petroleum, said “Managing and operating this important oil field showcases Qatar Petroleum’s distinctive technical capabilities in operating and managing oil & Gas fields, and maximizes the value for the State. It also further enhances our efforts to implement our ambitious growth plan designed to set Qatar Petroleum firmly on the road to becoming the best national oil and gas company in the world.” He also added that “Qatar Petroleum will offer employment to all Occidental Petroleum of Qatar employees and look forward to welcoming them into the QP family.”

Mr. Al-Kaabi thanked Occidental Petroleum of Qatar and all its employees for their significant efforts and contributions in managing and operating the ISND offshore oil field during the past 24 years.

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