E&P overview Essay Example | Topics and Well Written Essays - 2500 words

E&P overview - Essay Example The Liquefied Natural Gas is slated to deliver in two phases, Train 1 and Train 2 to be completed in 2007 and 2009. The former will supply LNG to America and the latter to Asia for next 25 years. Apart from making Qatar Petroleum and ExxonMobil major producers of LNG, The project will also strengthen the position of Qatar State in the LNG market. By the decade’s end Qatar’s LNG exports will exceed 77 Mta. The offshore development of construction and installation of two wellhead platforms and two offshore pipelines for the required gas feedstock is being carried out by J. Ray McDermott Middle East. A Joint Venture between Qatar Petroleum and ExxonMobil, Barzan Project will yield will yield about 1.5 billion cubic feet per day of domestic gas to be supplied for infrastructural and industrial projects of the State of Qatar. The project for Appraisal, Development and Production Sharing Agreement (ADPSA) signed between Qatar and ONGC Videsh Ltd, with latter as the operator of Najwat Najwat Oil Structure. ADPSA ranges for a period of 20 years with initial two years dedicated to Appraisal and rest for development. Appraisal phase includes reprocessing of 200 sq km of seismic data, and drilling of two appraisal wells, which started in 2007. According to a latest news report ONGC Videsh Ltd has found oil in the Najwat Najem block. According to Kurdish Regional Government that the oil reserves if northern Iraq are exploited, it can lead to increase in oil production of Iraq from 2 million barrels per day to 8 million barrels a day. A Joint Venture between company with an investment of US $2 Billion gas exports to Oman and includes setting up of 500 Km of gas pipeline. The pipeline will transfer one billion cubic feet of gas per day to Oman. Oilex is recommending to Joint Venture participants and the Omani regulatory authorities that 7 inch casing be run and a production testing program carried out over the primary and secondary objectives