Qatar Petroleum, Shell and Petrochina signs new exploration and production sharing agreement
Qatar Petroleum has signed a new exploration and production sharing agreement with Shell and PetroChina for Qatar Block D, where the partners will jointly explore for natural gas. Block D covers 8,089 sq km onshore and offshore Qatar and is located close to the city of Ras Laffan.
The agreement starts with a five-year exploration period and has a total term of 30 years. During the exploration period, Shell and PetroChina will implement a work program including exploration technical studies, 2D and 3D seismic acquisition, processing, re-processing and interpretation and drilling of exploration wells to the pre-Khuff formation
The Block D concession is for pre-Khuff geological intervals. The overlying Khuff horizon contains the super-giant North Field. Part of the Block D concession extends beneath the North Field.
The agreement was signed in Doha by His Excellency Abdulla bin Hamad Al-Attiyah, deputy prime minister and minister of energy and industry; Peter Voser, chief executive officer of Shell; and Zhao Dong, chief financial officer of PetroChina.
Minister Al-Attiyah noted that Qatar Petroleum is preparing for additional pre-Khuff reservoir exploration tenders in the near future.