TotalFinaElf and Qatar Petroleum, the Qatari national oil company, announced the approval of a $150 million north development plan of the Al-Khalij field located on Block 6, offshore Qatar, in water depths of approximately 60 meters, stated a press release.
The Al Khalij field has been in production since March 1997 and currently produces more than 40,000 barrels of oil per day (bpd). Its production should be increased to 60,000 bpd upon completion of the drilling campaign that is currently underway. The development of the northern area will then increase the daily production capacity of the field to 80,000 barrels of oil. First oil from the new facilities is planned for beginning 2004.
Along with the development of the northern area, TotalFinaElf has been granted the rights to appraise and develop an extension of the field located to the north of Block 6. An appraisal well will be drilled in 2003 in this extension in case of a success. As recently announced by the Group, TotalFinaElf is now holding 100 percent on the Alkhalij field after acquisition of Agip's interest. — (menareport.com)
© 2002 Mena Report (www.menareport.com )