(MENAFN- The Peninsula) QP Petroleum (QP) has announced its decision to do away with the management of Mesaieed Industrial City (MIC) and the land allocation business in the area. This is part of QP's decision to focus on its core oil & gas business by exiting non-core business activities, Saad Sherida Al Kaabi (pictured), President and Chief Executive Officer of QP announced on Tuesday.
QP has been managing the MIC since 1996 through its 'MIC Management Directorate' as a single point authority.
It has been providing "one stop" service to all businesses in Mesaieed, to develop a strategic plan for the allocation of land, to provide common port, marine and infrastructure facilities and to attract light, medium industries to compliment to larger businesses.
Outside the MIC, QP has a small industrial area, where private sector companies have set up their facilities. QP will continue to own the land. But the management of this land will also be handed over to a government entity.
"QP has decided to totally focus on core business, and are exiting any non-core business activities. We will not compete in any way with the private sector. To the contrary, we want the private sector to be strong and grow to help the overall economy", Al Kaabi said. On the Al Shaheen production sharing contract, Al Kaabi said QP has invited "a group of leading oil and gas companies" to submit bids for the operation and development of the field following the existing contract's expiration . But he did not disclose the names of the international companies who have show interest.
The QP CEO dismissed the reports that Qatar is not keen on attracting international companies. " The fact is national oil companies across the world are becoming more and more professionally competent and financially sound. International companies have to really compete harder and perform better to win projects. We have an ambition of becoming one of the leading national oil companies in the world".
"We have set new strategic objectives to become one of the best national oil companies in the world, enabling us to be at "par" with leading international oil and gas companies", he said.
Replying to a query, the QP CEO said QP's discussion with Pakistan on LNG export is in an advanced stage. "Pakistan is an important country for Qatar, and we are bound by distinct and strong relationship. Pakistan has a terminal to receive liquefied natural gas. We hope that the we will soon reach on an agreement".
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