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Qatar Overview

Qatar

in figures

Oil Reserves25.2 billion barrels

Oil Production1.92 million bopd

Gas Reserves24.9 tcm

Gas Production175.7 bcm

Qatar: Advantages in Adversity

Qatar has 24.5 tcm (865 tcf) of gas reserves, most of it located in the offshore North Field. The North Field is the world’s largest non-associated gasfield. According to the Qatar National Bank, the available reserves allow Qatar to maintain its current production for another 138 years. Natural gas production in Qatar stood at 175.7 bcm (6.2 tcf) in 2017. Qatar Petroleum manages all of the country’s hydrocarbons activities.

Qatar holds oil reserves of 25.7 billion barrels. Almost all of its oilfields are offshore, the only exception being the Dukhan field. The country produced 1.92 million boepd of oil and liquids in 2017, and its R/P ratio is 36.1 years. Most of Qatar’s condensates and NGLs are produced from the North Field. In 2016, QP announced it had awarded a 30% stake in a new 25-year contract to Total to operate Qatar’s 300,000-bopd Al Shaheen oilfield. QP will retain 70% in the new joint venture.  Total plans to invest more than USD 2 billion between 2017 and 2022 to develop the field. The super-major took over operatorship from Maersk Oil in July 2017, with a new company, North Oil Company, created to represent the joint venture.

The country has made a considerable investment in natural gas liquefaction capacity, bringing 14 trains on line between 1999 and 2011. The trains, operated by Qatargas, have a combined nameplate production capacity of 78 million tonnes of LNG per year. They exported 78.4 million tonnes in 2015.

More than 90% of Qatar’s LNG production is committed through supply purchase agreements  between 2014 and 2021. Its LNG exports have traditionally been shipped under long-term oil-indexed contracts, but the emirate is delivering more and more of its gas under short-term contracts and on spot markets as many traditional customers are aiming at diversifying import sources in light of the growth of the global LNG market. In March 2018, QP awarded Chiyoda a FEED contract for three LNG trains, each with a capacity of 7.8 million tonnes per year, to service an expansion of the North Field development. First LNG is expected in 2023.

QatarEnergy enters Egyptian offshore
NEWS
Egypt - May 04, 2022

QatarEnergy will join Shell’s development of two frontier exploration blocks in the Red Sea offshore Egypt, marking the…

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Tenaris wins Qatar pipeline contract
NEWS
Qatar - November 30, 2021

Tenaris has signed a contract with state-run QatarEnergy to supply line pipes and bends for the North Field East project, the…

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Qatar reports

More reports
Qatar orders six LNG vessels
NEWS
Qatar - November 08, 2021

QatarEnergy has contracted Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries to build six LNG vessels, the…

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QatarEnergy joins Canadian exploration works
NEWS
Canada - October 25, 2021

QatarEnergy has signed a deal with ExxonMobil for 40% interest in an offshore exploration licence in Newfoundland and Labrador…

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Mohamed FAROUK CEO ADES INTERNATIONAL HOLDING
Interview
Egypt - October 06, 2021

Mohamed Farouk, CEO of ADES International Holding, talks to The Energy Year about the recovery of activity in the regional oil and gas industry and new technologies…

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Vantage wins Qatari offshore drilling works
NEWS
Qatar - August 13, 2021

Vantage Drilling has signed contracts for two of its jackup rigs to begin works in offshore Qatar, the Houston-based company announced in its Q2 results on…

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Dietmar SIERSDORFER Middle East and UAE Managing Director SIEMENS ENERGY
Interview
Abu Dhabi - April 09, 2021

Dietmar Siersdorfer, Siemens Energy’s Middle East and UAE managing director, talks to The Energy Year about the company’s role in the region’s energy transition,…

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