QP and ConocoPhillips to develop GTL project in Qatar
Posted: 8 December 2003
Qatar Petroleum and ConocoPhillips signed a Statement of Intent
(SOI) regarding the construction of a gas-to-liquids (GTL) plant
in Ras Laffan, Qatar.
The agreement was signed by His Excellency Abdulla Bin Hamad Al-Attiyah,
Second Deputy Prime Minister and Minister of Energy and Industry
of Qatar on behalf of Qatar Petroleum, and by Mr. Jim Mulva, ConocoPhillips
President and Chief Executive Officer.
The SOI initiates detailed technical and commercial pre-FEED (front-end
engineering and design) studies and establishes principles for negotiating
a Heads of Agreement for an integrated reservoir-to-market GTL project.
HE, Minister Al-Attiyah, said: "I welcome ConocoPhillips'
participation in this project and its support for establishing Ras
Laffan as the GTL capital of the world. This project represents
another important step towards the clear and ambitious vision of
His Highness the Emir, Sheikh Hamad Bin Khalifa Al-Thani, that aims
to ensure the optimal utilization of the country's hydrocarbon resources
by setting up oil and gas-related projects and diversifying sources
of national income while creating development opportunities for
the welfare and prosperity of Qatar."
Mr. Mulva stated, "ConocoPhillips is honored to have the opportunity
to build on its excellent relationship with Qatar Petroleum to further
develop this world-scale project as we work toward a Heads of Agreement
over the next twelve months. With our technology, resources and
experience in executing large-scale developments, we are well positioned
to carry out global GTL projects. We are committed to meeting the
goals set out in the Statement of Intent and look forward to more
definitive agreements in 2004."
ConocoPhillips initiated a GTL research and development program
in 1997 that has shown encouraging results in the syngas, Fischer-Tropsch
and hydroprocessing technology areas. ConocoPhillips began operation
of a 400 barrel-per-day GTL demonstration plant in Ponca City, Okla.,
in July 2003. The demonstration plant is designed and operated to
assure successful technology scale-up and reliable commercial plant
operation.
ConocoPhillips is an integrated petroleum company with interests
around the world. Headquartered in Houston, the company had approximately
54,800 employees, $82 billion of assets, and $106 billion of annualized
revenues as of Sept. 30, 2003.
For more information see www.conocophillips.com.
Posted by Richard Price,
Editor Pipeline Magazine
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