Qatar, ExxonMobil sign enhanced gas utilization pact
ExxonMobil Corp. unit ExxonMobil Middle East Gas Marketing and Qatar General Petroleum Corp. have signed a development and production-sharing agreement for an enhanced gas utilization project at Qatar's supergiant North gas field.
ExxonMobil Corp. unit ExxonMobil Middle East Gas Marketing and Qatar General Petroleum Corp. have signed a development and production-sharing agreement for an enhanced gas utilization (EGU) project at Qatar's supergiant North gas field. The accord follows the signing of a heads of agreement for the project in December 1998.
Under the EGU scheme, additional North field gas reserves will be developed for pipeline sales to domestic projects and for regional gas exports.
the EGU project will produce 1.75 bcf/d of gas, plus condensate, butane, and propane for export, as well as ethane for use as feedstock in future petrochemical plants.
"The signing of today's agreement demonstrates Qatar's continued implementation of its strategy in developing its industrial base," said Abdulla bin Hamad al Attiyah, Qatar's minister of energy, industry, electricity, and water and chairman of QGPC.
"This is the fourth major project to develop gas reserves from Qatar's giant North field. It follows earlier developments by QGPC to supply gas to local markets and by QGPC and partners in the QatarGas and RasGas LNG projects.
"It also represents a continued important step in the systematic development of the North field and Qatar's efforts in becoming a major supplier of gas to regional and international markets. Marketing efforts in Qatar and with the Gulf Cooperation Council countries are progressing well," the minister said.
ExxonMobil Vice-Chairman Lucio NOTO said, "We are proud of the progress we have made together with partners in QGPC, first with QatarGas and RasGas. The EGU project expands our position and strengthens our relationship with Qatar."