Qatar Makes First Natural Gas Discovery In 42 Years
From Economy Watch
The new discovery is understood to cover a 544 square-kilometre area; and will be operated by the state-owned Qatar Petroleum (QP) along with its partners Mitsui Gas Development Qatar and Germany’s Wintershall.
Though the new field, known as Block 4 North (4N), pales in comparison to the huge reserves at the North Field, estimated at a whopping 900 tcf, it is still larger than Germany’s total proven gas reserves.
Energy Minister Mohammed Saleh al-Sada said that the partners were all “very pleased” with the discovery; and would begin production at the field “God willing, in the next few years.”
“We have already started planning and looking at different engineering options,” Mohammed Saleh said, as cited by Bloomberg. “Gas discovery in Block-4N has been made after four years of intensive exploration activities, including the drilling of two exploration wells.
Although Qatar is a member of OPEC and is a also significant oil producer, the government has devoted more resources to the development of natural gas in the modern era, particularly in LNG exports. In 2008, Qatar’s gas sector overtook its crude oil industry as its main GDP contributor for the first time in its history.
The nation presently holds nearly 14 percent of the world’s total proven reserves of natural gas, despite sharing the North Field with Iran.
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