Qatar Petroleum Assumes Operatorship of the Idd El-shargi North Dome and Idd-El Shargi South Dome Offshore Oil Fields

Source Press Release
Company Qatar PetroleumOccidental Petroleum Corporation 
Tags Strategy - Corporate, Upstream Activities
Date October 07, 2019

Qatar Petroleum today 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 Petroleum’s 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 Petroleum’s distinctive technical capabilities in operating and managing oil and gas fields.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd