Qatar Petroleum signs joint venture with Total to manage Al-Shaheen oil field
Qatar Petroleum
Doha - WAM
Qatar Petroleum, QP, on Monday signed a Joint Venture Agreement, JVA, with the multinational French oil and gas company, Total, to establish a new Qatari company to be known as the North Oil Company. that will develop and operate the Al-Shaheen oil field.
According to the Qatar News Agency, QNA, the new company will be 70% owned by QP and 30% by Total.
President and CEO of QP, Saad Sherida Al-Kaabi, said that the objective had been to choose a partner with world class technical capabilities to continue the development and operation of Al-Shaheen field in partnership with QP, while at the same time ensuring the highest possible financial return to the State of Qatar, reported QNA.
Source : WAM
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