15 Feb 2018 - 0:55
Qatar to boost LNG production to 100mtpa
DOHA: Qatar Petroleum (QP) has rolled out its new Corporate Strategy signaling to further boost Qatar’s leading global position by raising its LNG production from 77 million to 100 milllion tonnes per year (mtpa).
The new corporate strategy and core values were designed to firmly place QP on the road to realizing its vision “to become one of the best national oil and Gas companies, with roots in Qatar and a strong international presence. The rollout signals a new era of growth for Qatar Petroleum, led by the planned expansion of North Field production, which will further boost Qatar’s leading global position by raising its LNG production from 77 million to 100 million tonnes per year,” the energy icon said in a statement yesterday.
The roll out of new strategy also comes amidst an increasing international upstream activity, which saw Qatar Petroleum’s footprint expand to include promising offshore areas spanning Latin America, Africa, the Mediterranean, and the Middle East.
Qatar Petroleum’s Corporate Strategy was rolled out during a 3-day event held at QP headquarters, in which senior management and executives from Qatar Petroleum and its affiliates discussed its various elements and their implementation. The strategy is designed to strengthen QP’s technical capability and operating model, maximize upstream value to the State of Qatar, create a large-scale value-adding international portfolio, re-inforce Qatar’s LNG & global gas position, maximise downstream added value, and promote energy efficiency & optimum energy mix in Qatar.
Speaking at the event, Saad Sherida Al Kaabi (pictured), QP President & CEO said “The new strategy and values come at a critical time in our expansion, and will ensure that we continue to be a global LNG leader. Therefore, we should all be willing and prepared to embrace and lead change to ensure success.”
“We are developing a global business and are also enhancing our competitive position as a global energy player, leaving our positive mark across the world. This would not be possible without the great support and guidance from His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of the State of Qatar,” Al Kaabi added.
Qatar Petroleum’s core values were also shared and discussed during the special event. They are: integrity, safety, excellence, collaboration, responsibility and respect. These values describe the standards of behavior that will shape the desired corporate culture and will be key in Qatar Petroleum achieving its vision.