The past five years have very much been about consolidation for Qatar Petroleum (QP), but the next five years is going to see much more activity for one of the regions largest national oil companies.
Project activity has been extremely quiet across Qatars entire hydrocarbons value chain, but QP has been quietly planning the next wave of schemes to utilise its vast natural resources, while keeping the world supplied with liquefied natural gas.
Between now and the end of the decade, the main focus will be on two massive petrochemicals joint ventures planned for the Ras Laffan Industrial City in the north of Qatar.
Both of these projects are now at the main contract tender phase and international contractors are formulating their bids accordingly.
After so many years in the doldrums there is no doubt that almost $14bn worth of petrochemicals projects will come as a welcome shot in the arm for the sector and should remind everyone of QPs spending power.
Doha is keen to both strengthen its gas operations as well as diversify its hydrocarbons sector still further and contractors are hoping that the Al-Sejeel and Al-Karaana petrochemicals complexes will be the opening salvos in a new cycle of massive spending. This should include upstream oil as well as the downstream investments.
More will become clear in 2015 when a decision is expected on whether to increase gas production at Qatars main cash cow, the giant offshore North Field. If Doha decides to go ahead then a new swathe of LNG production trains could be added to the projects already in QPs pipeline.