TotalFinaElf Raises Interest in Qatar's Al Khalij Field to 100%

abarrelfullabarrelfull wrote on 09 May 2012 12:50

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May 29, 2002

TotalFinaElf has signed an agreement to purchase ENI's 45% interest in the Al Khalij oil field offshore Qatar. Under the terms of the agreement, the Group, as operator of the field, will increase its interest from 55% to 100%.

The Al Khalij field was brought on stream in March 1997. Its production capacity will be increased to 60,000 barrels per day upon completion of the drilling campaign currently underway.

This acquisition, which has been approved by Qatar authorities, further strengthens TotalFinaElf's position in Qatar, where the Group is a major stakeholder in the Dolphin gas project aimed at the supply of gas to the United Arab Emirates from the North Field. It is also a key partner in Qatargas (LNG production) and the petrochemicals industry.

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