Qatar Petroleum today assumed the management and operatorship of the Idd El-Shargi North Dome (ISND) and Idd El-Shargi South Dome (ISSD) offshore oil fields, following the expiry of the development and production sharing agreements with Occidental Petroleum of Qatar Ltd. for both ISND and ISSD on 6 October 2019.

Qatar Petroleum had previously announced that it would be taking over the operatorship of the ISND field once the related development and production sharing agreement expired and that it was offering employment to all Occidental Petroleum of Qatar Ltd. (OXY) employees. Subsequent to such announcement, Qatar Petroleum and OXY reached an agreement under which OXY would also hand over the ISSD field to Qatar Petroleum along with the ISND field.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, welcomed all of the new employees from OXY to Qatar Petroleum and expressed confidence in Qatar Petroleum’s human capital as being the main driving power behind its continuous successes, including taking over both ISND and ISSD fields.

His Excellency Mr. Al-Kaabi also thanked OXY for its efforts and contributions in managing and operating both the ISND and ISSD oil fields for the past 20+ years.

The integration of ISND and ISSD illustrates the development of Qatar Petroleum’s distinctive technical capabilities in operating and managing oil and gas fields.

About Qatar Petroleum

Qatar Petroleum (QP) is a state-owned corporation established by Decree Law No. 10 in 1974. It is responsible for all phases of the oil and gas industry in the State of Qatar.
The principal activities of QP, its subsidiaries and joint ventures are the exploration, production, local and international sale of crude oil, natural gas and gas liquids, liquefied natural gas, refined products, synthetic fuels, petrochemicals, fuel additives, fertilizers, steel and aluminium.
The operations and activities of QP and its affiliates are conducted at various onshore locations, including Doha, Dukhan and the Mesaieed and Ras Laffan Industrial Cities, as well as offshore areas, including Halul Island, offshore production stations, drilling platforms and the North Field.

About Occidental

Occidental (NYSE: OXY) is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. Occidental’s midstream and marketing segment purchases, markets, gathers, processes, transports and stores hydrocarbons and other commodities. The company’s wholly owned subsidiary OxyChem manufactures and markets basic chemicals and vinyls.