Qatar Petroleum ( QP ), the country's bellwether entity, unveiled a new strategy to become a world-class oil giant through optimum exploitation of oil wealth and enhanced global expansion. The move, which comes at a time when the country has already achieved the annual 77mn tons of liquefied natural gas production target and is also fast undertaking diversification, is consistent with the global developments that are shaping the hydrocarbon industry.
"Our new vision is to be a world-class oil and gas corporation, with its roots in Qatar, and a strong international presence," Energy and Industry Minister and QP chairman HE Dr Mohamed bin Saleh al-Sada told various ministers, senior QP officials and senior management of QP 's joint ventures and subsidiaries at the Qatar National Convention Centre. The minister stressed the significance of QP 's new vision as a major tributary contributing to the achievement of Qatar's comprehensive vision as set and guided by HH the Emir Sheikh Tamim bin Hamad al-Thani.
QP is working hard to promote the presence in the world, carrying its brand everywhere and creating opportunities, relations and partnerships, he said, adding it would extend all possible support to build the country's institutions to secure a "healthy environment for a sustainable economic growth". Asserting that the domestic operations would continue to remain as its mainstay; the new vision said "we see international expansion as very important opportunity for QP to grow and increase its contribution to the growth of Qatar." However, the new vision did not get into the specifics of international expansion.
Highlighting that Qatar's transformation into one of the world's fastest growing economies could not have been possible without the significant contribution from the energy sector, al-Sada said "we are building leading institutions, enhancing capabilities and energies, and above all we are building and empowering our real wealth: the human being." "Today and as QP approaches its 40th anniversary, we believe that the time has come to set a new vision that would fit in well with its landmark achievements, and its status among the world's energy corporations; a vision that would draw the roadmap for its future objectives and be consistent with the international developments that are shaping our industry," he said.
This vision, he said, is meant to be a new starting point and a beacon towards achieving its strategic objectives. It is also meant to clearly sum up its ambitions as a national corporation and to create a sense of belonging and purpose amongst its human resources, and further enhance the status among its clients. "We will augment our presence worldwide, in addition to improving sustainability at home and adding to industrial sector here with a number of mega projects," he told reporters on the sidelines. Issa bin Shahin al-Ghanim, director of strategic planning and policy at QP outlined the company's mission, goals and strategic planning system," emphasizing that "strategic planning in this sector is the main tool to achieve this vision."
Terming that long-term strategic planning as "a must, not an option"; he said "our mission is to ensure that Qatar receives maximum benefit from its oil and gas resources by engaging in activities that add value to these resources." Issa stressed on the importance of wisely managing the country's reserves of oil and gas and the importance of meeting local needs of oil and gas and its derived products at a competitive cost. He also emphasized on the importance of the environment, and the corporation's commitment to adhere to the highest standards of health, safety and environmental protection by the corporation in all of its operations.
Prime Minister hails QP 's role
HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani has highly evaluated the prominent role Qatar Petroleum ( QP ) is playing for bearing the responsibility of all stages of the oil and gas sector in Qatar. In a statement on the occasion of unveiling QP new corporate vision in a special ceremony held under his patronage, HE the Prime Minister said: " QP is a national and large institution with fingerprints and effects that cannot be erased or removed…
It has shouldered the responsibility of the oil and gas sector in Qatar at all levels ranging from drilling and exploration through the production, processing, refining, storage and transportation of hydrocarbons and its derivatives and subsidiary products to the marketing of these materials and products and their distribution, sale and export abroad." Expressing his pride at QP 's accomplishments, HE the Prime Minister described the new vision as a beacon positioned to rise to the level of future challenges.