New vision for QP to become clear soon: Official
(MENAFN- The Peninsula) Qatar Petroleum (QP) is undergoing a phase of restructuring in order to cope with future challenges in developing current oil and gas producing fields, noting that the company's new vision would be announced in the upcoming months, said Nasser Khalil Al Jaidah, CEO, Qatar Petroleum International (QPI).
Speaking to QNA, Al Jaidah said the restructure comes at the right time with low oil prices a great motivation for the institution to be more capable of facing challenges in the upcoming years by getting rid of all burdens that accumulated during the previous period.
He said that QP has been busy developing its fields and ventures, which are almost complete now, making it in a better position today thanks to its expertise, great capacities and global reputation, which led it to move forward along the lines of major international firms.
He said the international projects of QPI are currently being evaluated in terms of geopolitics, prices and current challenges so as to go in line with QP vision.
QP's successes since 1992 were a result of a policy that relies on carrying on with economic projects based on sound foundations, he added.
In the last 20 years, Al Jaidah said, QP has achieved unprecedented successes compared to its regional peers, expressing pride in working in the energy field in a period that witnessed Qatar's transformation into a leading country in this area and influence in energy-related industries.
Thanks to these efforts, he added, Qatar has transformed from a country that produces around 300,000 barrels of oil per day to produce more than 1 million barrels of oil per day.
Speaking to QNA, Al Jaidah said the restructure comes at the right time with low oil prices a great motivation for the institution to be more capable of facing challenges in the upcoming years by getting rid of all burdens that accumulated during the previous period.
He said that QP has been busy developing its fields and ventures, which are almost complete now, making it in a better position today thanks to its expertise, great capacities and global reputation, which led it to move forward along the lines of major international firms.
He said the international projects of QPI are currently being evaluated in terms of geopolitics, prices and current challenges so as to go in line with QP vision.
QP's successes since 1992 were a result of a policy that relies on carrying on with economic projects based on sound foundations, he added.
In the last 20 years, Al Jaidah said, QP has achieved unprecedented successes compared to its regional peers, expressing pride in working in the energy field in a period that witnessed Qatar's transformation into a leading country in this area and influence in energy-related industries.
Thanks to these efforts, he added, Qatar has transformed from a country that produces around 300,000 barrels of oil per day to produce more than 1 million barrels of oil per day.
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