Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
Qatar Petroleum (QP) is finally moving forward with plans to redevelop the declining 45,000 b/d offshore Bul Hanine field. It plans to ramp up production to 90,000 b/d. But at what cost? The state firm says it will throw an astounding QR40bn, about $11bn, at the project over the next fourteen years.
While not necessarily a watershed moment for Middle East oil production, the high costs associated with the Bul Hanine...