North Oil Company (NOC) is a

crude oil Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring u ...

and

natural gas Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...

company based in

Qatar Qatar, officially the State of Qatar, is a country in West Asia. It occupies the Geography of Qatar, Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it shares Qatar–Saudi Arabia border, its sole land b ...

History

The creation of the North Oil Company (NOC) was announced in June 2016 by

QatarEnergy QatarEnergy (), formerly Qatar Petroleum (QP), is a state-owned petroleum company of Qatar. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. The President and CEO is S ...

as a joint venture with

TotalEnergies TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and is one of the seven supermajor oil companies. Its businesses cover the entire oil and gas chain, from crude oil and natural gas explorati ...

(30%), to develop and operate the Al Shaheen oil field for 25 years. Operations, along with production, sale, and export of crude oil started on July 14, 2017. TotalEnergies announced an investmeant of around $2 billion into the oil field between 2017 and 2022, and

announced that total investments into the field would be around $3.5 billion. From 1992 – 2017, the Al Shaheen Oil Field was developed and operated by

Maersk Oil Maersk Oil () was a Danish oil and gas company owned by the A. P. Moller-Maersk Group. with a maximum operated production of 550,000 barrels of oil equivalent per day. Production came from Denmark, the UK, Qatar, Kazakhstan, the US Gulf of Mex ...

. In July 2017, the first crude tanker from Al Shaheen was loaded. In November 2018, it was announced that

PetroVietnam Petrovietnam (PVN), formally the Vietnam National Industry - Energy Group () and formerly the Vietnam Oil and Gas Group ( or ), is the state-owned national oil, gas and energy industry corporation of Vietnam. Petrovietnam has developed ra ...

was contracted by NOC to further develop the second phase of the field up to 2020, including the erection of three new

wellhead A wellhead is the component at the surface of an oil or gas well that provides the structural and pressure-containing interface for the drilling and production equipment. The primary purpose of a wellhead is to provide the suspension point and ...

platforms and three bridges.

Corporate structure

NOC is led by chief executive officer Frederic Paux. Khalid al Rumaihi is chairman of the board of directors. Other members of the board are Abdulaziz Al-Mannai, Jassim Al-Marzouqi, Mohammed Al Ghanem, Rashid Al Fehaidi, Hamad Al-Baker, Lionel Levha, Pierre Ranger and Laurent Wolffsheim.

Operations

North Oil operates the Al Shaheen Oil Field. The field is situated in Qatari waters, around 180 kilometers north from

Doha Doha ( ) is the capital city and main financial hub of Qatar. Located on the Persian Gulf coast in the east of the country, north of Al Wakrah and south of Al Khor (city), Al Khor and Lusail, it is home to most of the country's population. It ...

, 80 kilometers north of

Ras Laffan Ras Laffan Industrial City () is a Qatari industrial hub located north of Doha. It is administered by QatarEnergy. Ras Laffan Industrial City is Qatar's main site for production of liquefied natural gas and gas-to-liquid. It hosts among others O ...

and the north-east coast of Qatar. Al Shaheen is the largest offshore field in Qatar and is part of the

South Pars/North Dome Gas-Condensate field The South Pars/North Dome field is a natural-gas condensate field located in the Persian Gulf. It is by far the world's largest natural gas field, IEA, World Energy Outlook 2008 - Chapter 12 - Natural gas resources and production prospects, p.29 ...

, stretching across 9,700 square kilometres in

Iran Iran, officially the Islamic Republic of Iran (IRI) and also known as Persia, is a country in West Asia. It borders Iraq to the west, Turkey, Azerbaijan, and Armenia to the northwest, the Caspian Sea to the north, Turkmenistan to the nort ...

ian and Qatari waters. The field is considered one of the largest and most complex oilfields in the world. Current production of the field was in 2017, produced by 33 platforms and close to 400 wells. The field yields more than 100 million barrels per year, 45% of Qatar's total oil production. NOC's current goal is to maintain current production and output levels from the field, which is considered difficult in complex fields like Al Shaheen, given the natural decrease of pressure and resources. In order to achieve their current goal, the company plans to drill more than 100 new wells up to 2022.

References

External links

{{Portal, Energy
"Qatar Petroleum Establishes “NORTH OIL COMPANY” for the Future Development and Operation of Al-Shaheen Oil Field and Selects Total as its Partner"

Company web Site
Oil and gas companies of Qatar Energy companies established in 2017 Qatari companies established in 2017