New Offshore Energy Platform for Massive Oil Field Ready for Departure

South Korean shipbuilder Hanwha Ocean is nearing completion of a fixed platform for the Al-Shaheen oil field in Qatar. The platform is scheduled to sail away at the end of July 2024 and reach its destination within 25 days. This project for North Oil Company is part of a joint venture between QatarEnergy and TotalEnergies, with a 25-year design life and a total weight of 34,800 tons. Hanwha Ocean plans to hand over the project in May 2025, with the first oil production targeted for the end of December 2024.

The Al-Shaheen oil field is one of the world’s largest offshore fields, located northeast of Qatar’s coast. QatarEnergy is aiming to boost oil production at the field by 100,000 barrels per day through its Project Ru’ya, which involves multiple engineering, procurement, construction, and installation contract packages. The company has engaged several international firms to handle the development phases of the field since North Oil Company took over operations in 2017.

In addition to its oil production efforts, QatarEnergy is expanding its LNG fleet with contracts for 122 modern vessels. The first new ship is expected to be delivered by the end of the third quarter of 2024. The company plans to drill over 200 wells and install new infrastructure to develop more than 550 million barrels of oil in the next five years, with the first oil anticipated in 2027.

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