Qatar approves gas field development

ExxonMobil Middle East Gas Marketing announced yesterday the launch of phase one of Al Khaleej Gas, a venture that will produce a daily yield of 750 million cubic feet of gas from Qatar’s North Field.

The State of Qatar, Qatar Petroleum and ExxonMobil Middle East Gas Marketing, a subsidiary of Exxon Mobil Corporation, announced yesterday the launch of phase one of Al Khaleej Gas (AKG-1).

Al Khaleej Gas (AKG) will produce gas from Qatar’s North Field, recover associated condensate and natural gas liquids for sale, and market 1.75 billion cubic feet per day of pipeline gas for domestic and export customers.

AKG will be developed in phases to meet the gas sales commitments, with AKG-1 to supply approximately 750 million cubic feet per day to the Oryx GTL plant, Ras Laffan Power Plant and other domestic industrial customers.

Total investment for AKG-1, which will go on line in the fourth quarter of 2005, is in excess of $1.1 billion.

‘With its strategic geographical location and its enormous reserves of natural resources of gas in the North Gas Field, Qatar will continue to develop as a dynamic base for major world-class industrial projects,’ said Abdullah Bin Hamad Al Attiyah, Qatar’s Minister of Energy and Industry and Chairman of Qatar Petroleum.