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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

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            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Total acquires 30% interest in Al-Shaheen field in Qatar

              Reuters

              June 29, 2016
              in Oil & Gas
              0

              Total has won a 30 percent stake in a new 25-year contract to operate Qatar's largest offshore oilfield, officials said, in the second major upstream development deal for the French oil firm in the Gulf region in as many years.

              State-owned Qatar Petroleum (QP) will keep the remaining 70 percent in the new joint venture for the Al-Shaheen field, which is 80 km (50 miles) off Qatar's coast and currently produces around 300,000 barrels per day (bpd).

              Six international oil firms including BP and Royal Dutch Shell Plc have bid to operate the oilfield.

              The deal announcement on Monday is a blow to Denmark's A.P. Moller-Maersk, which has been operating the oilfield since 1992.

              For years it was expected that Maersk Oil would renew its 25-year production agreement on Al-Shaheen field when its license runs out in 2017. But the Gulf state surprised the company last year by putting out a tender for the field.

              Maersk submitted a new bid for the field but Total has made the best offer.

              "Total was the best bidder, we are happy to see Total wins that process," Saad al-Kaabi, CEO of state-owned Qatar Petroleum (QP) said at a news conference in Doha.

              Total plans to invest more than $2 billion in developing the Al-Shaheen oilfield over five years, the company's chief executive said.

              "We have a plan to invest for five years 2017-2022, more than $2 billion in that field in order to integrate technology," Total's CEO Patrick Pouyanne told the news conference in Doha.

              "Our first objective is to maintain 300,000 barrels a day. Currently that's not a given as there's a natural decline (in production) as its a complex field," Pouyanne said.

              "If we have opportunities to increase production we will, there are parts of the field which have not been developed," he added.

              Total will be in charge with operating the oilfield starting July 14, 2017, and a new company named North Oil Company will be created to manage the joint venture, Kaabi said.

              The new deal is a boost for Total, which in January last year, it became the first oil major to renew a 40-year onshore concession in the United Arab Emirates, putting its peers under pressure to improve terms after the French firm made the best offer.

              In a statement Maersk Oil said it will be "redeploying a number of its employees which today are based in Qatar elsewhere in its global organization."

              "The majority of remaining employees in Qatar are expected to be offered employment by the new operator," it added.

              QP's Kaabi said all of Maersk Oil's employees in Qatar will be guaranteed a job in the new company created for the venture.
              Reuters
              29 June

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