Total joined the project of development of Al-Shaheen deposit in Qatar

​Total will acquire 30% in the company developing the Al-Shaheen deposit at the shelf of Qatar in the Persian Gulf. The agreement was signed with Qatar Petroleum in Doha. Total reported that it would enter the project from July 14th 2017 for 25 years.

Prior to that Qatar Petroleum and Total will found a JV North Oil Co which will develop the deposit for 25 years. In the coming 5 years the JV plans to invest $2 bln into the Al-Shaheen deposit so as to support the exploration and work out the variants of extraction growth.

Total will acquire 30% in the project and will use its best technical developments, the head of Total, P. Pouyanne, said.

The Al-Shaheen deposit along with Duhan and Idd-el-Shargi is in the top-3 deposits which provide 85% of the entire extraction in Qatar. The field gives 300 thousand barrels a day that is about 40% of the total volume of oil extraction in the country.