Maersk Oil to leave Qatar oil project after 25 years on the site
Maersk submitted a bid, but QP selected a different company as partner for the oil field's future. Maersk's agreement ends in July 2017.
During the past 24 years, Maersk Oil and QP together have developed the oil field into Qatar’s largest off-shore producing oil field. Maersk Oil will work with QP to create a safe and efficient transition of the existing operations to the company that takes over next year.
“Maersk Oil is growing as a result of improved operating performance and with major projects like Culzean in the U.K. and Johan Sverdrup in Norway; we continue adding new production through to the end of the decade,” Maersk Oil CEO Jakob Thomasen. “We will continue to deliver in the years ahead based on a strong operational performance and cost focus and ensure that our major projects are executed on time and on budget.”
Maersk Oil will redeploy some of the current Qatar employees elsewhere within its global organization. Other employees are expected to be offered jobs through the new operator.