About Qatar
• Population: 2 million
• Ruled by the Al Thani family since the mid 1800s
• Was a British protectorate
• The highest per capita income in the world
• Gas is the main economic driver
• The oil and gas sectors accounted for over half of Qatar’s 2010 GDP
• Qatar holds the world’s third largest natural gas reserves
• The world’s largest supplier of liquefied natural gas
• Member of OPEC
Oil
The national oil company, Qatar Petroleum controls all aspects of the upstream and downstream sector. QP owns and operates the onshore Dukhan field and the offshore Maydan Mahzam and Bul Hanine fields. The Dukhan field was discovered by BP in 1939 with first exports ten years later. Most of the offshore fields are operated by international oil companies via productions sharing agreements. Maersk’s offshore field Al-Shaheen is an important source for future production growth. QP has offered more favorable terms in recent years to increase oil revenues and mitigate gas-related capital expenditures.
Oil overview 2010
• Proven oil reserves: 26 billion barrels
• Oil production: 1,5 million barrels per day
• Oil consumption: 0,22 million barrels per day
Major oil producers
• Maersk
• Occidental
• Total
• Wintershall
• GDF Suez
• CNOOC
Natural Gas
The majority of Qatar’s natural gas is located in the massive offshore North Field, which spans an area roughly equivalent to Qatar itself. Part of the world’s largest non-associated natural gas field, the North Field is a geological extension of Iran’s South Pars field. Qatar has a moratorium on further development of the North field’s gas reserves.
Qatar’ has developed the large-scale integrated projects linked to LNG exports or downstream industries that utilize natural gas as a feedstock. Qatar is now exporting some 77 bcm of LNG annually. The export volumes could be expanded further through debottlenecking. Qatar is also exporting piped gas to the United Arab Emirates through the Dolphin pipeline system.
The key success factors have been:
• Very large, low cost, gas resources
• Strong leadership and decision making has facilitated the expansion so quickly
• Partnering strategy to bring expertise, experience and finance
International oil companies with the technology and expertise in integrated mega-projects has been favored, including ExxonMobil, Shell, and Total. QP has a majority share in the dominant companies in Qatar’s LNG sector: Qatargas Operating Company Limited (Qatargas) and Ras Laffan Company Limited (RasGas). Asian companies have played a significant role as buyer of the LNG. Japan played a major role in financing the first projects. Shell and Sasol have built plants that transform the gas into liquids. Shell’s GTL-plant is the largest in the world. Qatar Petroleum and Norsk Hydro have built Qatalum, a major aluminium smelter.
Main Markets
Markets Under Observation
Oil and Gas Advisor, Middle East
