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10-10-18
Qatar Petroleum eyes major boost in oil production capacity
(MENAFN) Qatar Petroleum set a target to boost its oil output capacity to hit 6.5 million barrels of oil equivalent per day (mboe/d) from the current 4.8 million over a period of eight years.
The news has been unveiled by QP President and CEO Saad Sherida Al Kaabi during the opening of the Oil & Money Conference in London.
The president and CEO affirmed that QP is looking to achieve security, efficiency, reliability, technology along with investing in environment protection and human capital.
Al Kaabi stated "we are continuing our legacy and growth by recently announcing our decision to increase Qatar's LNG production capacity to 110 MTA by 2024, representing an increase of about 43 percent from our current production capacity of 77 MTA."
He added "the new expansion project will give us the extended ability and flexibility to meet additional global demand while further boosting Qatar Petroleum's strategic growth plans."
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