Nasser Jaidah, head of QPI and the former director of oil ventures at QP, is currently filling key executive positions at the company and has signed a string of contracts and agreements this year.
The agreement with Conoco covers all energy-related ventures outside Qatar, from upstream oil and gas exploration to the construction of refineries and petrochemical plants.
The two companies have previously collaborated on the Qatargas III development, the first gas project in Qatar targeted exclusively at the US market.
The project’s capacity is 7.8 million tonnes a year with the first liquefied natural gas (LNG) cargoes expected to be delivered in 2009.
Conoco was also in talks with QP about the possibility of establishing a gas-to-liquids project at Ras Laffan with capacity of up to 240,000 barrels a day (MEED 24:1:03), but the project was shelved when QP imposed a moratorium on exploration in the North field in 2005.