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Qatar signs oil and gas deal with US group
Qatar, Business, 7/21/1997
Qatar has signed oil and gas accords with a five-member international consortium led by Atlantic Richfield (Arco) of the United States.
Energy Minister Abdallah Ibn Hamad al-Attiya signed the two accords on July 16 on behalf of Qatar General Petroleum (QGPC).
The consortium groups Arco with British Gas Exploration and Production, the German firms Wintershall and Preussag, and Gulfstream Resources of Cyprus.
Under the oil accord, the consortium is to drill at least two wells in the offshore Block 11, Northeast of Qatar, in the first phase of exploration which is to last four years.
The gas deal is an "amendment " to a 1976 accord between Qatar and Wintershall and calls for the Arco-led consortium to take over production and development in a part of the giant offshore North field.
The output is to be marketed in the Gulf.
Also on Wednesday, the South African oil company SASOL signed a memorandum of understanding with QGPC and Philips Petroleum of the US to build a natural gas plant in Qatar.
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