QatarEnergy, Qatar’s state-owned energy company, has awarded four major contracts for the engineering, procurement, construction, and installation (EPCI) of the next phase of Qatar’s largest offshore oil field. The contract winners include McDermott, Hyundai Heavy Industries, Larsen & Toubro Limited, and China Offshore Oil Engineering Co (COOEC).
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Developing 550 million barrels of oil over a 5-year period
These EPCI contracts, part of Project Ru’ya, will enable QatarEnergy to increase oil production from the Al-Shaheen field by approximately 100,000 barrels per day (bpd). Since taking over the field’s operation in July 2017 through its joint venture with TotalEnergies, called North Oil Company, QatarEnergy has been developing Al-Shaheen in multiple phases. The current phase, Project Ru’ya, aims to develop more than 550 million barrels of oil over a five-year period. It involves drilling over 200 wells, installing a new centralized process complex, constructing nine remote wellhead platforms, and laying associated pipelines. The production of oil is expected to commence in 2027.
QatarEnergy announces the award of $6 billion EPC contracts to increase oil production by about 100,000 BPD from Al-Shaheen oil field #QatarEnergy #YourEnergyTransitionPartner #Qatar pic.twitter.com/cSQg0FA5V1
— QatarEnergy (@qatarenergy) January 31, 2024
Four EPC packages of QatarEnergy’s project
The four EPC packages, collectively valued at over six billion dollars, encompass the following projects:
1. An EPC package worth approximately $2.1 billion for the construction of nine wellhead platforms. This package has been awarded to a consortium consisting of McDermott Middle East Inc. and Qingdao McDermott Wuchuan Offshore Engineering Co.
2. An EPC package valued at around $1.9 billion for the construction of a Central Processing Platform. This package has been awarded to a consortium comprising McDermott Middle East Inc. and Hyundai Heavy Industries.
3. An EPC package valued at about $1.3 billion for the construction of a riser platform. This package has been awarded to Larsen & Toubro Limited.
4. An EPC package valued at approximately $900 million for the construction of subsea pipelines and cables. This package has been awarded to China Offshore Oil Engineering Co (COOEC).
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