Five companies compete for Qatar oil field

26 May 2016

Bidders for offshore deal include Chevron, ConocoPhillips, Maersk, Shell and Total

Five international oil companies have submitted bids to operate the Al-Shaheen field, Qatar’s biggest offshore oil field, according to a media report.

Bloomberg, citing people with knowledge on the matter, reported that US groups Chevron and ConocoPhillips, Denmark’s Maersk Oil, UK-Dutch Shell and France’s Total have bid to enter a production-sharing agreement on the field.

State-owned Qatar Petroleum is expected to select an operator for the Al-Shaheen – which currently produces about 300,000 barrels a day (b/d) – by the end of the year.

Maersk Oil has been the operator of the field since 1992 but its agreement with Qatar Petroleum expires in mid-2017.

Qatar’s oil attracting the big players

 Offshore oil rig

Offshore oil rig

Offshore oil rig

Al-Shaheen is likely to be Qatar’s last major oilfield concession tender and it is clear that several oil majors are going to be queuing up to win the contract.

The offshore field is large (300,000 barrels a day) and while there are several technical challenges any asset that size is always going to attract interest, whatever the oil price. Read more

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