QatarEnergy has awarded four major contracts worth over $6 billion to increase oil production from the Al Shaheen offshore oil field, Qatar’s largest. The engineering, procurement, construction and installation (EPCI) contracts are part of Project Ru’ya, the third phase of development for Al Shaheen since North Oil Company took over operations in 2017.
With the first oil expected in 2027, Project Ru’ya will develop over 550 million barrels of oil including drilling more than 200 wells and installing new platforms and pipelines. This is anticipated to boost Al Shaheen’s production by around 100,000 barrels per day.
The EPCI contracts include:
- A $2.1 billion contract was awarded to McDermott Middle East Inc. and Qingdao McDermott Wuchuan Offshore Engineering for nine wellhead platforms.
- A $1.9 billion contract was given to McDermott Middle East Inc. and Hyundai Heavy Industries for a central processing platform.
- A $1.3 billion contract was granted to Larsen & Toubro Limited for a riser platform.
- A $900 million contract was awarded to China Offshore Oil Engineering Co. for subsea pipelines and cables.
QatarEnergy President and CEO Saad Sherida Al-Kaabi welcomed the contract awards, calling it an “important milestone” in developing Qatar’s largest oil field. Al Shaheen currently produces around half of Qatar’s crude oil.
The Al Shaheen field is located 80 kilometres offshore of Qatar. Since beginning commercial production in 1994, it has undergone significant expansion to reach 300,000 barrels per day by 2007. Project Ru’ya will help unlock Al Shaheen’s full potential as one of the world’s largest oil fields.
