Qatar Energy Company announced the award of contracts worth $6 billion for a project to increase oil production from Al Shaheen Field, the largest oil field in Qatar, by about 100,000 barrels per day.
According to a statement published by Qatar Energy Company on its website, four main contract packages have been awarded for engineering, procurement, construction and installation.
The awarding of contracts comes as part of the “Roya” project, which is considered the third phase of the development of the Al-Shaheen field since the “Northern Oil Company” took over, which is a joint project between “Qatar Energy” Company (70%) and “Total Energies” (30%).
The project aims to develop more than 550 million barrels of oil, and will be implemented over a period of five years, with production expected to begin in 2027. The project includes drilling more than two hundred wells, a new central processing platform, nine production platforms, and accompanying pipelines.
Al Shaheen field is located 80 kilometers off the coast of Qatar, and is considered one of the largest fields in the world in terms of “the amount of oil in place.” Commercial production from the field began in 1994 and underwent a major development process, bringing its production rate to 300,000 barrels of oil per day in 2007.