Qatar poured $22 billion into hydrocarbon industries
Over the past three decades Qatar has invested $22 billion in petroleum, gas and petrochemicals, an economic report said.
Qatar produces 800,000 barrels of crude oil daily and production is expected to reach one million barrels a day within two years. In addition, Qatar
produces 40,000 barrels of liquid gas per day.
Qatar began pumping petroleum from the land and ocean in 1949. The oldest and most famous field is Dajan, which produces 335,000 barrels a day.
Most of Qatar's petroleum comes from ocean deposits the largest is Abu Al-Haneen and Maydan Muhzan. Recently, Qatar has contracted the U.S Chevron Company to look for new oil fields.
During the past few years, Qatar has intensified its efforts to extract its huge gas deposits. Qatar is working on improving production in its northern gas field that has a 380 trillion cubic-foot reservoir. Liquid gas exports to Japan, the United States, Spain, Turkey and other countries is a reported 6 million tons a year.
Faisal Al-Suwaydi, director of the Qatar Gas project said there are plans to increase liquid gas production in the northern field to 8.3 million tons daily to satisfy the market demands for clean gas to run electrical generators and for use in heavy industry. –(Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)
- £3million investment into new vessel by Ocean Mainport
- Grand expectations: aiming to become the world's fastest growing economy, Iraq commits to $145 billion worth of oil projects
- Arabian Gulf hydrocarbon projects worth US$690 billion
- FDI pours in to the Gulf
- Persistent post-Arab Spring cronyism: Algerian businessmen are pouring endless cash in Bouteflika's re-election