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FINANCIAL NEWS
Qatar Petroleum, Total to invest USD3.5bn in Al Shaheen oil field
12 Jul 2017
(MENAFN) Qatar Petroleum (QP) and French giant Total proclaimed to issue USD3.5bn for the development of exploration of Al Shaheen oil field.
Moreover, the North Oil Co. has successfully finished all transition activities to take over the operation of the Al Shaheen oil field in July 14, 2017.
Under the new arrangements that were put in place in June last year, NOC has been licensed the rights to the development and operation of Al Shaheen oil field for the coming 25 years.
In addition, Al Shaheen oil field is located in Qatari waters 80 kilometers north of Ras Laffan with facilities containing of 33 platforms and close to 400 wells.
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MENAFN1207201700450000ID1095616959
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