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Thursday, May 20, 2010     GET REAL

Royal Dutch Shell, PetroChina to head up Qatar gas exploration

ABU DHABI — Qatar has expanded its search for natural gas.

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The state-owned Qatar Petroleum has signed an agreement with China's PetroChina and the European Royal Dutch Shell to explore for gas in the Gulf Cooperation Council emirate.

Under the 30-year agreement, signed in Doha on May 16, the three companies would operate in Qatar's Block D, an onshore and offshore area of more than 8,000 square kilometers.


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A statement by the companies said QP would supervise the project and buy any gas produced from Block D.

Shell, designated the operator, was granted a 75 percent stake, with PetroChina picking up the remaining interest.

"China is an important downstream market, and PetroChina is keen to build upstream partnerships with major resource holders like Qatar," PetroChina representative Zhao Dong said.



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