ID :
180809
Mon, 05/09/2011 - 09:31
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Shortlink :
http://m.oananews.org//node/180809
The shortlink copeid
Energy & Industry Minister Signs New Agreement for Gas Exploration, Production
Doha, May 08 (QNA) - Qatar Petroleum and Japan's JX Nippon Oil & Energy signed on Sunday a joint agreement for gas exploration and production and production-sharing of the exploration block "A". It is a 30-year exploration and production-sharing agreement, and JX Nippon will be the contractor and operator of the project.
The agreement was signed by HE Minister of Energy and Industry Dr Mohammed Bin Saleh Al Sada, on behalf of Qatar Petroleum, and by JX Nippon President and Chief Executive Officer Makoto Koseki.
Under the agreement, JX Nippon will explore for natural gas in block "A" under the supervision of Qatar Petroleum. The exploration area will cover an area of 6,173 square kilometers of the Qatari waters to the north east of Ras Laffan.
Dr Al Sada said this new agreement was an implementation of the wise policy laid down by HH the Emir Sheikh Hamad bin Khalifa Al Thani, which aims at increasing natural gas reserves as well as boosting the production capacity of oil and gas to support the national economy.
It is the third time in less than two years that the signing of an agreement dedicated to exploring the deep gas reservoirs layers is taking place in the State of Qatar, where two agreements on exploration and production-sharing for the blocks "B","C" and "D" had been signed, he added. (QNA)