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Article: QATAR - Part 1 - The Prospects.
- Article from:
- APS Review Oil Market Trends
- Article date:
- August 27, 2007
CopyrightCOPYRIGHT 2007 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Qatar's crude oil production capacity is expected to increase from 860,000 b/d to more than 1.2m b/d in 2010 and 1.5m b/d by 2015 - including its 50% share of al-Bunduq field. This is excluding condensate of which Qatar will be producing more than 800,000 b/d by 2012. Like most OPEC member-states, Qatar is producing crude oil close to capacity in view of strong demand. In addition, Qatar is increasing its natural gas output to the equivalent of 5m b/d of crude oil by 2012, already having become the world's biggest exporter of LNG.
A jump in Qatar's capacity since mid-1995 has been the result of about $50 bn invested by the state and international oil companies ...