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Sunday, February 28, 2021

Qatar Petroleum inviting Exxon, Chevron and ConocoPhillips for JV gas talks

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Qatar Petroleum will invite Exxon, Chevron and ConocoPhillips for talks to form a joint venture to expand gas production at the country’s North Field, Its Energy Minister and QP Chief Saad Al-Kaabi told Bloomberg.

According to reports, Qatar wants to “de-risk the project as much as possible” before negotiating with potential partners and will outline project costs to companies so investors will “come in with open eyes and understanding the costs,” Al-Kaabi is quoted as saying.

While the coronavirus pandemic has not hit gas as hard as oil, Al-Kaabi says Qatar Petroleum will cut its capital and operating expenditure by 30% due to weak energy prices.

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