QatarEnergy awards $6B EPC contracts to boost Al-Shaheen oil field production by 100,000 BPD

QatarEnergy has awarded four main Engineering, Procurement, Construction, and Installation (EPCI) contract packages related to the next development phase of the offshore Al-Shaheen field (Qatar’s largest oil field) to increase production by about 100,000 barrels of oil per day (BPD), according to a statement by the company.
The award is part of Project Ru’ya. Ru’ya which translates to vision in Arabic is the third phase of Al-Shaheen’s development since North Oil Company, a joint venture between QatarEnergy (70%) and TotalEnergies (30%), took over the field’s operation in July 2017.

Project Ru’ya aims to develop over 550 million barrels of oil, scheduled for completion within 5 years with initial oil production anticipated in 2027. The project involves drilling over 200 wells, establishing a centralized process complex, installing nine remote wellhead platforms, and laying associated pipelines.
The four EPCI packages, totalling over $6 billion are:

1-9 Wellhead platforms valued at about $2.1 billion and awarded to a consortium of  McDermott   Middle East Inc. and Qingdao McDermott Wuchuan Offshore Eng. Co.;
2-A Central Processing Platform valued at about $1.9 billion and awarded to a consortium of McDermott Middle East Inc. and Hyundai Heavy Industries;
3-A riser platformvalued at about $1.3 billion and awarded to Larsen & Toubro Limited;
4-Subsea pipelines and cables valued at about $900 million and awarded to China Offshore Oil Engineering Co (COOEC).

Al-Shaheen field located 80 kilometres offshore Qatar is among the world’s largest in terms of “oil in place”. The field began commercial production in 1994 and underwent significant development to reach an oil production rate of 300,000 bpd in 2007. QatarEnergy is a leading energy company dedicated to sustainable development and the global energy transition. Specializing in LNG, the organisation covers the full spectrum of oil and gas
Earlier this week, QatarEnergy and Excelerate Energy solidified a 15-year LNG sale and purchase agreement (SPA) aimed at supplying LNG to Bangladesh.
Under the SPA, Excelerate will procure up to one million tons per annum (MTPA) of LNG from QatarEnergy, with deliveries slated to floating storage and regasification units in Bangladesh expected to begin from January 2026. Source:Oil&Gas Middle East

Feb 28, 2024