QatarEnergy announces the award of $6 billion EPC contracts to increase oil production by about 100,000 BPD from Al-Shaheen oil field
QatarEnergy has announced the award of the four main Engineering, Procurement, Construction, and Installation (EPCI) contract packages related to the next development phase of the offshore Al-Shaheen field (Qatar’s largest oil field) to increase production by about 100,000 barrels of oil per day (BPD).
The award is part of Project Ru’ya (vision in Arabic), which is the third phase of Al-Shaheen’s development since North Oil Company, a joint venture between QatarEnergy (70%) and TotalEnergies (30%), took over the field’s operation in July 2017.
Project Ru’ya, which will develop more than 550 million barrels of oil, will be executed over a period of 5 years with first oil expected in 2027. The project includes the drilling of more than 200 wells and the installation of a new centralized process complex, nine remote wellhead platforms, and associated pipelines.
The four EPC packages, with varying scopes of work, valued in total at more than six billion dollars, comprise of:
(i) the EPC package for 9 wellhead platforms valued at about $2.1 billion and awarded to a consortium of McDermott Middle East Inc. and Qingdao McDermott Wuchuan Offshore Engineering Co.;
(ii) the EPC package for a Central Processing Platform valued at about $1.9 billion and awarded to a consortium of McDermott Middle East Inc. and Hyundai Heavy Industries;
(iii) the EPC package for a riser platform valued at about $1.3 billion and awarded to Larsen & Toubro Limited; and
(iv) the EPC package for subsea pipelines and cables valued at about $900 million and awarded to China Offshore Oil Engineering Co (COOEC).
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