Qatar Petroleum has initiated an evaluation process for the selection of a partner to undertake the future development of the Maersk Oil-operated Al Shaheen field, as the current agreement expires mid-2017.evenue increased 8.1 percent to 18 billion euros in the second quarter. Siemens reaffirmed today it expects earnings per share to increase by at least 15 percent from 2014’s 6.37 euros, and a profit margin of between 10 percent and 11 percent at the industrial business.

Al Shaheen is located off the northeast coast of Qatar in the Persian Gulf, 180km north of Doha.

Maersk Oil has been operator of the Al Shaheen field since 1992 and together with Qatar Petroleum successfully unlocked the potential of the field for more than 20 years producing approximately 300,000 b/d, some 40% of Qatar’s daily oil production.

“We have developed an unrivalled technical experience and understanding of this complex offshore field and have a robust plan to deliver future value from Al Shaheen,” Jakob Thomasen, CEO of Maersk Oil said. “We have known that we would be challenged on terms and conditions in connection with the 2017 extension and have been awaiting more information on how Qatar Petroleum wished to go about such a process. We look forward to this opportunity to continue our partnership with Qatar Petroleum, based on our long term commitment and detailed technical knowledge.”

Source: www.oedigital.com

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