In a significant development for Qatar’s oil, energy, and infrastructure sector, the nation is offering contracts worth $5 billion. The contracts will cover the engineering, procurement, construction, and installation of the Ruya offshore project. The project is also known as Al-Shaheen Phase 3-batch 1, Qatar’s largest offshore oilfield.
The project aims to boost the country’s hydrocarbon production capacity and enhance its output up to 300,000 barrels per day. The field is already responsible for approximately 600,000 bpd of the nation’s crude oil production.
Sources reveal that the selection process for the Engineering, Procurement, Construction, and Installation (EPCI) contracts is in its final stages. Qatargas Operating Company Ltd. may choose McDermott to handle the engineering, procurement, construction, and installation (EPCI) of the North Field Production Sustainability (NFPS) Offshore Fuel Gas Pipeline and Subsea Cables Project.
This project, known as COMP, includes a new central processing platform deck and jacket, a flare tripod and topsides, along with two bridges. Hyundai Heavy Industries and Seatrium from South Korea and Singapore respectively, have also submitted bids for this EPCI contract.
The project entails substantial investments in advanced technologies and infrastructural enhancements that will facilitate the extraction and processing of hydrocarbons from offshore reserves. This strategic move will elevate the nation’s hydrocarbon production capabilities.
With Qatar focusing on oil production, new collaborations and technologies are advancing. They achieved budget surplus in just the first three months of 2023. An estimated surplus of $5.4 billion was achieved from January to the end of March. Furthermore, Qatar doubled its export of oil, and other services, to the United Kingdom.
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