OPEC-member Qatar has recently hastened development of its natural gas resources, specifically targeting the LNG market, of which the small Middle Eastern country is now the leading exporter. Although the lowest reserve holder among its peers in OPEC, Qatar is estimated to contain more than 15 billion barrels of proven oil reserves as of 2007. The country boasts close to 911 Tcf of proven natural gas reserves, and leading the way in securing and exploiting these resources are Qatargas and Rasgas. Of particular value to the country's natural gas production is the giant offshore North field, or the Qatari extension of the South Pars megaproject, which is the largest gas field in the world.
Regulatory Compliance deals with the required permits, licenses and compliance to guidelines and legislation associated with oil and gas projects and operations. It is the regulation that a company must adhere to in order to meet certain requirements imposed by guidelines or laws.