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QP Assumes Operatorship of the Idd El-Shargi North Dome & Idd-El Shargi South Dome Fields

Source: www.gulfoilandgas.com 10/7/2019, Location: Middle East

Qatar Petroleum assumed the management and operatorship of the Idd El-Shargi North Dome (ISND) and Idd El-Shargi South Dome (ISSD) offshore oil fields, following the expiry of the development and production sharing agreements with Occidental Petroleum of Qatar Ltd. for both ISND and ISSD on 6 October 2019.

Qatar Petroleum had previously announced that it would be taking over the operatorship of the ISND field once the related development and production sharing agreement expired and that it was offering employment to all Occidental Petroleum of Qatar Ltd. (OXY) employees. Subsequent to such announcement, Qatar Petroleum and OXY reached an agreement under which OXY would also hand over the ISSD field to Qatar Petroleum along with the ISND field.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, welcomed all of the new employees from OXY to Qatar Petroleum and expressed confidence in Qatar Petroleumís human capital as being the main driving power behind its continuous successes, including taking over both ISND and ISSD fields.

His Excellency Mr. Al-Kaabi also thanked OXY for its efforts and contributions in managing and operating both the ISND and ISSD oil fields for the past 20+ years.

The integration of ISND and ISSD illustrates the development of Qatar Petroleumís distinctive technical capabilities in operating and managing oil and gas fields.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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