Mubasher: Qatar is looking to increase oil production to 6.5 million barrel per day (bpd), up from the current output of 4.8 million bpd within the coming 8 years, Saad Al Kaabi, CEO of Qatar Petroleum (QP), said.
Al Kaabi added that the state-run energy company mulls over investing in the US in several fields, including shale gas and conventional oil.
“We are looking very critically at the United States because we have a position there. We have the Golden Pass that we are investing in”, Al Kaabi told Reuters.
QP also plans to expand in Texas-based Golden Pass LNG terminal by the end of 2018, as the Qatari company owns the majority stake in the facility.
“We are in Mexico, we are in Brazil, we are contemplating investing in the US in many areas, in shale gas, in conventional oil. We are looking at many things,” he added.
Moreover, the state-owned firm’s strategy is to boost its business in the upstream sector, which will be related to other businesses that we are doing and a few one-off deals in petrochemicals.
Since 5 June 2017, Qatar has been facing outflows of foreign customers' deposits after four Arab countries led by Saudi Arabia cut their diplomatic and trade ties with the gas-rich state, accusing Qatar of financing terrorism. Doha forcefully denies the charges.
