Qatar Exploration and Production Report

The outlook for Qatar’s crude oil and condensate production looks strong. As of current development plans, the production is expected to increase by approximately 19% between 2025 and 2030. This boost will be attributed to increase in Al-Shaheen, Qatar’s largest oilfield. The field has seen multi-phase development plans over the last few years, with $6 billion allocated in the beginning of 2024 for the third phase of development, which will add 100,000 bd in 2027. The other incremental increases will also come from the expansions of North Field, which produces condensates and other liquids alongside natural gas. In Dukhan, one of the country’s largest oilfields, QatarEnergy is currently undertaking two enhanced oil recovery projects, which will include facilities upgrades and infill drilling.
Over the last few years, QatarEnergy has embarked upon ambitious plan for strengthening its global footprint, aiming at producing 500,000 barrels of oil equivalent (BOE) from outside Qatar by 2030. Through active acquisition strategy, the company established a robust overseas portfolio including Oil & Gas fields, exploration blocks, and LNG projects in countries such as Brazil, Namibia and US among others. In 2024, QatarEnergy expanded its presence in Egypt by acquiring stakes in three exploration blocks in the Mediterranean Sea, increasing the company’s portfolio in Egypt to seven blocks.
One of the most promising countries for QatarEnergy global strategy in recent years has been Namibia, which witnessed massive discoveries made in partnership with TotalEnergies and Shell. QatarEnergy has stakes in some of these discoveries, most notable Venus oilfield. However, the complexities involved in developing these deepwater fields, located in a country lacking the infrastructures and facilities required for such projects, along with the field’s high gas-to-oil ratio, have dimmed its development prospects. The same applies to the gas discoveries in 11B/12B blocks in South Africa, where QatarEnergy held a 25% stake. It was found that the development of Brulpadda and Luiperd gas fields, which located in these blocks, was not economically feasible, prompting QatarEnergy and its partner TotalEnergies to withdraw. The cases of Namibia and South Africa highlight the underlying challenges in QatarEnergy’s global expansion strategy. They also cast some doubts on the company’s ability to achieve its target of producing 500,000 boed outside Qatar by 2030.

The second half of the current decade will represent a critical testing phase for Qatar’s efforts to become a dominant force in global LNG market. The new production capacity from North Field will coincide with the entry of additional LNG volumes from producers such as the United States, the UAE, Canada, Mozambique, and others. This could potentially create oversupply in the market, which Qatar will need to address by shifting its long-term contract strategy towards offering shorter, more flexible agreements, and perhaps increasing its involvement in the spot LNG market.

Scope

• Outlook on the crue oil and natural gas production in the country
• Key details of active and upcoming oil and gas assets in the country
• Analysis of the LNG market and Qatar's role in this market

Reasons to Buy

• Gain a strong understanding of Qatar's E&P sector
• Facilitate decision making based on strong historical and outlook of oil and gas production data, licensed blocks details, and discoveries
• Assess your competitor’s production outlook and licensed blocks count in the country
• Analyze the latest M&A landscape and awarded contracts related to the country’s E&P sector