Monday, March 27, 2023

QatarEnergy signs agreement to continue development of Al-Karkara and A-Structures oil fields

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QatarEnergy said it signed an agreement with Japan’s Qatar Petroleum Development Company (QPD) for the continued development and production of the Al-Karkara and A-Structures oil fields in the territorial waters of the State of Qatar.

The five-year agreement commences on December 23, 2022, succeeding the development and production sharing agreement signed in December 1997. Under the new agreement, QPD, which is owned by Cosmo E&P and Sojitz, will continue to act as the operator of the oil fields.

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Minister of State for Energy Affairs, the President and CEO of QatarEnergy, Saad Sherida Al-Kaabi, said: “We look forward to the next five years of cooperation with QPD, whose successful efforts have unlocked the capabilities of these relatively small fields and added value to our partnership.”

Al-Karkara and A-Structures are offshore fields located about 90 kilometres to the east of Doha and consist of three small fields: Al-Karkara, which was discovered in 1988, and the A-Structures (A-North and A-South), which were discovered in 1971. The fields were initially considered non-commercial until QPD managed to prove their commercial viability in the late 1990s. The fields started production in March 2006, and since then have produced a total of 33.5 million barrels of crude oil. QatarEnergy said the Al-Karkara and A-Structures are the first fields in the State of Qatar to achieve zero gas flaring by re-injecting the excess sour gas underground.

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QatarEnergy has interests in the Guyana basin, through a partnership with TotalEnergies called TOQAP. Total owns 60% of TOQAP and QatarEnergy owns 40%. TOQAP has a 25% stake in the Orinduik block and a 25% stake in the Kanuku block.

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