Total Wins Bid to Operate Qatar’s Giant Al-Shaheen Oil Field
- Offshore reservoir produces about 300,000 barrels of oil a day
- French company wins 30% stake as part of joint venture
Total to Run Qatar's Al Shaheen Oil Field
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Qatar Petroleum chose Total SA to operate the country’s biggest oil field and replace AP Moeller-Maersk A/S in running the reservoir responsible for more than 40 percent of the OPEC nation’s output.
Paris-based Total, which beat competitors including Royal Dutch Shell Plc, won a 30 percent stake in the al-Shaheen joint venture with state-run Qatar Petroleum, Saad al-Kaabi, Qatar Petroleum’s chief executive officer, told reporters at the signing ceremony in Doha. The venture will start in July 2017.