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FINANCIAL NEWS
Total will invest USD2bn in Qatar oilfield development
28 Jun 2016
(MENAFN) Total aims to invest up USD2bn in developing the Al-Shaheen oilfield in five years, after the French major won 30 percent share to operate Qatar’s largest offshore oilfield.
Moreover, the firm plans to invest for five years 2017-2022, more than USD2bn in the field to integrate technology, while a new firm named North Oil will manage the joint venture.
On the other hand, Qatar Petroleum will keep the remaining 70 percent in the new joint venture for the Al-Shaheen field, which is 80 km off Qatar’s coast.
In addition, the new deal is an improvement for Total, which became the first oil major to renew a 40-year onshore concession in the United Arab Emirates.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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