The first phase of the QAR 37.8 billion (USD 10.4 billion) Barzan gas development project being implemented as a joint venture between Qatar Petroleum and ExxonMobil Qatar will be operational by the end of 2013, an official related to the project told Zawya.
"Construction of the platforms and pipelines are going very well," the official said. The project includes installations for onshore and offshore natural gas processing. "Phase two will be completed in 2015," the official said on condition of anonymity. The project was originally scheduled for completion in 2014.
The project has attracting financing of about USD 8 billion, or about 70% of the project cost, from international banks and export promotion agencies. The owners, Qatar Petroleum and ExxonMobil Qatar, will finance the rest.
According to the Zawya Projects Monitor, the Barzan gas project aims to produce and process about 1.9 billion cubic feet of gas per day from Qatar's non-associated North Field for utilization in the domestic gas-related and petrochemicals industries.
The Ras Laffan Liquefied Natural Gas Company, or RasGas, will operate the project. J Ray McDermottis the consultant for the front-end engineering and design (FEED) study. The engineering, procurement and construction (EPC) contract was awarded to Hyundai Heavy Industries Company in January 2011.