Qatar Petroleum signed a new exploration and production sharing agreement with Shell and PetroChina for Qatar Block D. Under the agreement, the partners will explore for natural gas in the block, which spans 1.9 MM acres (8,089-square kilometers) onshore and offshore Qatar and is located close to Ras Laffan. The concession covers pre-Khuff geological intervals, and parts of the concession extend beneath the North field in the overlying Khuff horizon. The 30-year term agreement starts with a five-year first exploration period. During the exploration period, Shell and PetroChina will begin a work program that includes exploration technical studies; 2D and 3D seismic acquisition; processing; reprocessing and interpretation; and the drilling of several exploration wells to the pre-Khuff formation. If a discovery is made, the partnership will produce the natural gas under Qatar Petroleum's supervision. Shell will serve as operator, holding a 75% interest with PetroChina holding a 25% interest.
continue reading the full article