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Discuss this article (0 Comments)Qatar to hit 5m boepd daily by 2014 - oil official
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 17 August 2009
OIL PRODUCTION: Qatar set to produce 5 million boepd by 2014, according to Qatar Petroleum's director of oil and gas projects. (Getty Images)
Qatar's total oil and gas capacity should reach 5 million barrels of oil equivalent per day (boepd) in 2014 when planned energy expansion projects are completed, Qatar News Agency quoted a top official as saying on Monday.
That would be up from around 2.8 million boepd combined oil and gas output in 2008, according to Reuters calculations.
The world's largest exporter of liquefied natural gas could produce a total of 23 billion cubic feet (cfd) of natural gas per day by 2014, Saad al-Kaabi, Qatar Petroleum's director of oil and gas projects, told state news agency QNA.
Output of natural gas last year was about 7.4 billion cfd, according to BP's 2009 annual statistical review.
The 2014 total, including domestic supply and gas piped to the UAE, was equivalent to about 4.2 million boepd, he said.
Added to oil production of around 800,000 barrels per day (bpd), the total would be around 5 million boepd, he noted.
Qatar is one of OPEC's smallest producers, and pumped around 720,000 bpd in July, according to a Reuters survey.
It aims to boost LNG capacity to 77 million tonnes per year in 2010. Current capacity is 45-46 million tonnes.
Holding the world's third-largest gas reserves, Qatar is expected to produce 12 million tonnes of propane and butane per year by 2014, with total petrochemical production to reach 4.3 million tonnes per year by 2015, Kaabi said.
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