São Paulo – Qatar Petroleum (QP), the state-owned oil company, is working to raise its production capacity across the world from the current 4.8 million barrels of oil equivalent per day (boe/d) to 6.5 million boe/d in eight years. The figure includes oil and gas.
The information was published on the website of Doha-based newspaper The Peninsula, based in a keynote address made by Qatar Petroleum’s president and CEO, Saad Sherida Al Kaabi (pictured above) at the opening of the Oil & Money conference, which began in London on Tuesday (09) and runs until Thursday (11) under the theme “The New Energy Map.”
Al Kaabi said that Qatar Petroleum is interested in investing in safety, efficiency, reliability, technology, environment preservation and, above all, human capital. He said that Qatar is committed in joining the effort to supply for the growing global energy demand.
The CEO said that Qatar has decided to increase output of liquefied natural gas (LNG). The data shown by him indicates that it will be raised by 40% until 2024. “The new expansion project will give us the extended ability and flexibility to meet additional global demand while further boosting Qatar Petroleum’s strategic growth plans,” he said.
In the conference, Al Kaabi highlighted gas as the cleanest of all fossil fuels. “Many countries around the world are beginning to reject the economic and environmental cost of total and absolute reliance on oil,” he said. During the conference, Al Kaabi held side talks with global industry leaders on the gas industry.
Brazil is part of the company’s expansion strategy. Qatar Petroleum has acquired oil and gas blocks in three auctions held by the country, as part of consortia with other oil companies, the last one only two weeks ago.
Translated by Sérgio Kakitani
