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Kathleen Bury, Contax project manager, provides an insight into Qatar Petroleum's Al Shaheen Refinery in Qatar's Mesaieed industrial area, scheduled for completion in 2013.
GCC Context
The planned GCC energy Capex landscape for 2008 to 2010 continues to show signs of growth over the period 2005 - 2007, with and estimated US $388 billion worth of investments on the table.
The dominant sectors continue to include the refining and petrochemical industries, with around $91 billion and $80 billion respectively already planned for award by the end of 2010.
Qatar supports a project Capex position of approximately 13% worth of the investment planned within the GCC energy space.
Following Contax's analysis of project postponements from 2007 to 2008 and within the first three quarters of 2008, it is evident that the market is continuing to see a considerable amount of award and execution schedule slippages.
Nevertheless, given the GCC's commitment to solidifying its global ‘petrochemical and refining hub' position, it is anticipated that a number of key projects will be realised to help bridge the global demand and supply gap.
A major project that is expected to assist Qatar in achieving this goal is the Al Shaheen Refinery.
Background and strategic importance
Qatar Petroleum is planning to solely develop a grassroots refinery within the Mesaieed Industrial Area to process sour, heavy marine crude feedstock that will be sourced from Block 5 of the offshore Al Shaheen field currently being developed by Maersk.
