The state-owned Qatar Petroleum has signed an agreement with Japan's JX
Nippon to explore and develop an offshore natural gas reserve. QP said the
reserve was located off the northeastern coast of the Gulf Cooperation
Under the agreement, announced on May 8, QP and Nippon would operate in
a 6,173-square kilometer permit in Qatar territorial waters.
Also In This Edition
The agreement was meant to last for 30 years, and Nippon would invest $100 million in the
Officials said QP would oversee the energy project while Nippon would
provide technical services. This marked Nippon's first gas exploration
contract in Qatar.