FINANCIAL NEWS

Shell gas exploration in Qatar renounced

19 Jul 2014

(MENAFN) Royal Dutch Shell announced that exploration of its majority-owned national gas well in Qatar did not reveal commercial volumes, Arab News reported.

The oil and gas giant said that it remains committed to future plans in the gas-rich Gulf producer.

“The well reached total depth as planned; however, it did not encounter commercial volumes of hydrocarbons,” Shell said in a statement.

It is noted that the QSD-1 project is 75 percent owned by Shell and 25 percent owned by PetroChina.

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