TTA: TOTAL: Qatar Petroleum and Total sign new agreement on Al Khalij oil
field for a further 25 years
UK Regulatory Announcement
His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry
of the State of Qatar, Chairman and Managing Director of Qatar Petroleum, and
Yves-Louis Darricarrère, Total’s President, Upstream, signed today a Heads of
Agreement on Al Khalij field, offshore Qatar, for a further 25 years.
Located about 130 kilometers east of the Qatari coast, Al Khalij field was
discovered by Total (Paris:FP) (LSE:TTA) (NYSE:TOT) in 1991 and commenced
production in 1997 pursuant to an Exploration and Production Sharing Agreement
(“EPSA”), which was signed in 1989 and is due for expiry in early 2014.
Under the new HOA, QP and Total will have a 60/40 operating interest in the
field following the expiry of the EPSA, and Total will continue to operate the
Commenting on the QP/Total partnership on Al Khalij field, His Excellency Dr.
Mohammed bin Saleh Al-Sada, said: "We have been working with our long time
partner, Total, on Al Khalij field since its discovery. It has been a mutually
beneficial and fruitful partnership. We are pleased to sign this new agreement
to further develop the field as part of His Highness, Sheikh Hamad Bin Khalifa
Al Thani’s vision to continue to prudently develop our natural resources and
to increase Qatar’s hydrocarbon reserves.”
The HOA is further evidence of Total’s commitment to Qatar. This commitment
took a new dimension when the company was one of the first participants in the
multi-billion dollar gas projects in Ras Laffan. Total subsequently
participated in other large developments in Qatar’s refining and
petrochemicals sectors as well.
“This new agreement exemplifies the long-standing partnerships forged with the
State of Qatar, as it reflects Total’s commitment to work hand in hand with
QP. I am delighted to see Total continuing to be recognized, not only for
operational excellence in the energy sector, but also as an active member of
Qatar’s community and society at large,” stated Mr Darricarrère.
The signing ceremony which was held at QP Headquarters was attended by a
number of senior officials from Qatar Petroleum and Total.
About Qatar Petroleum
Qatar Petroleum, a public corporation established by Law number 10 of 1974, is
responsible for all phases of the oil and gas industry in Qatar. The principal
activities of Qatar Petroleum and its subsidiaries and joint ventures cover
exploration, drilling and production operations, transport, storage, marketing
and sale of crude oil, natural gas, natural gas liquids, liquefied natural
gas, refined products, petrochemicals and fertilizers.
For more information, please visit www.qp.com.qa
About Total in Qatar
Present in Qatar since 1936, Total has a 20% interest in the upstream part of
the Qatargas 1, a 10% interest in the Qatargas 1 liquefaction plant Joint
Venture (JV), a 24.5% stake in the Dolphin Energy Ltd Company and a 16.7%
stake in Qatargas 2 Train 5 JV. Total’s Qatari production averaged 155,000
barrels of oil equivalent per day in 2011.
Total is also a partner in the Laffan Refinery with a 10% interest and in the
Qapco (20%) and Qatofin (48.6%) petrochemical plants.
In addition to investments in Qatar’s energy sector, sustainable development
is a core commitment of Total in Qatar, as in all countries where Total
operates. To meet this commitment, Total supports long-term projects in the
country to promote education, research, environmental protection and local
economic development. Total backs Qatar’s drive to become a center of
excellence for research through its integrated research center, which opened
in 2009 in the Qatar Science and Technology Park. Total has also shown its
commitment to the educational sector through its partnership with Qatar
For more information, visit www.total.com
Tel.: +33 (0) 1 47 44 58 53
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