Doha—Qatar Petroleum plans to spend over Qatari riyals 40 billion ($11 billion) redeveloping the Bul Hanine field in the Persian Gulf as part of a broad program to reinvigorate production from the emirate’s oldest oil fields, the state-owned entity said Friday. The announcement is the company’s first in many months related to investment approval for a major new project in Qatar’s upstream oil and gas sector. The emirate’s petroleum industry expansion policy has since 2010 focused sharply on downstream development, especially petrochemicals diversification.
展开▼
