Qatar Petroleum has entered agreements worth more than QR9bn ($2.47bn) with international oil and gas firms as part of a localisation programme to boost the domestic energy industry and reduce dependence on imports.
The company signed a memorandum of understanding (MoU) with Baker Hughes, a GE company (BHGE) to create new opportunities to enhance BHGE’s footprint in Qatar.
The MoU also intends to improve BHGE’s operations through continued investment in technologies and services.
Through the agreement, Qatar Petroleum aims to strengthen the oil and gas supply chain in Qatar and enhance the skills of local talent.
Another MoU was signed with Schlumberger to help the company in its efforts to expand its presence in the country.
Schlumberger’s growth plans in Qatar include expanding its current operations in Zikreet and establishing a new integrated base facility in Ras Laffan by the end of this year. The company is also planning to set up a Center of Efficiency in the Free Zone to be used as a regional maintenance centre.
Meanwhile, Qatar’s energy shipping and transport firm Nakilat reached a joint venture agreement with McDermott to provide offshore and onshore fabrication services in Qatar.
The new JV aims to enhance productivity levels at Nakilat’s Erhama Bin Jaber Al Jalahma Shipyard and develop local construction capabilities in order to meet the rising demand for offshore and onshore structures.
The partners intend to deliver various support services for the construction, maintenance, repair and refurbishment of offshore and onshore structures, and vessels.
The new TAWTEEN localisation initiative will focus on the energy sector’s supply chain and expanding the small and medium enterprises base.
Qatar Petroleum president and CEO Saad Sherida Al-Kaabi said: “As part of our national duty to develop the industry in Qatar and to promote self-reliance, we saw the need to localise many of the supporting industries in our sector to help enhance our independence, as well as support the private sector through TAWTEEN.
“This programme provides local alternatives to exports, with a value of between QR8bn and QR9bn a year, which would raise GDP by about 1.6%.”
The company intends to increase its liquefied natural gas (LNG) production from the existing 77Mtpa to 110Mtpa by 2024.