Doha - Decypha: Qatar Petroleum, a state-owned firm, will launch a new project in the world’s biggest gas field, Qatar’s North Field.
The project will boost output by up to 10% and be an end to a 12-year moratorium on new projects in the North Field, Qatar Petroleum Chief, Saad Al-Kaabi, told Arabian Business.
The new project will produce approximately 2 billion cubic feet (bcf) of gas per day will be produced for export, equivalent to 400,000 barrel of oil per day (bpd).
"Qatar Petroleum's technical studies and assessment of the North Field have confirmed the potential for developing a new gas project," Al-Kaabi said.
The company invested hundred of billions of dollars on the new field, and likely to take several more years before the development starts producing gas for sale.
The Gulf country produces about 77 million tonnes of gas each year, which accounts for around 30% of global production.
By Decypha News Editorial Team
