Anadarko
awarded offshore block in Qatar
Posted: 18 May 2004
Anadarko Petroleum Corporation announced the signing of an oil
and gas exploration and production sharing agreement with Qatar
Petroleum (QP) for offshore Block 4.
At a ceremony held in the capital city of Doha, Qatar, the agreement
was signed by His Excellency the Second Deputy Prime Minister and
Minister of Energy and Industry, Abdullah bin Hamed Al Attiyah,
and Jim Emme, Anadarko Vice President of Exploration and Business
Development.
The 3,132 square-kilometer contract area is located approximately
40 kilometers from the northern coast of Qatar and lies adjacent
to the Anadarko-operated Al Rayyan oil field in Block 12.
The terms of this agreement call for an initial five-year exploration
phase during which Anadarko, in partnership with QP, will undertake
a work program comprising technical studies, seismic reprocessing,
acquisition of 2-D and 3-D seismic data and exploratory drilling.
Anadarko holds a 100 percent interest in the block.
"Block 4 is an important addition to Anadarko's existing portfolio
of exploration opportunities in Qatar. The block is situated within
some of the world's most prolific petroleum systems, and has remained
relatively unexplored for the last 30 years," Emme said. "Qatar
has become a focal point for growing our strategic asset base in
the Middle East."
Anadarko acquired its position in Qatar through the purchase of
Gulfstream Resources in 2001. In 2002, with the purchase of BP's
interests in Blocks 12 and 13 in Qatar, Anadarko increased its working
interest from 65 percent to 92.5 percent and became the operator.
Anadarko also holds a 49 percent interest in Block 11, operated
by Wintershall. With the addition of Block 4, Anadarko will hold
interest in over 1.5 million gross acres in Qatar.
Anadarko Petroleum Corporation is one of the world's largest independent
oil and gas exploration and production companies, with proved reserves
of 2.5 billion barrels of oil equivalent at year-end 2003. Anadarko's
operational focus extends from the Gulf of Mexico and prolific Texas,
Louisiana and Mid-Continent basins, up through the western U.S.
and Canadian Rockies and onto the North Slope of Alaska. In addition
to Qatar, Anadarko also has significant production in Algeria and
Venezuela and is executing strategic exploration programs in several
other countries.
For more information see www.anadarko.com
Posted by Richard Price,
Editor Pipeline Magazine
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