Qatar Petroleum to hand over non-core business operations to Manateq

Qatar Petroleum to hand over non-core business operations to Manateq

Qatar Petroleum has announced that, as part of its strategy to concentrate on its core business in the oil and gas industry, it will hand over operations of some of its areas in the Mesaieed Industrial City to the Economic Zones Company, Manateq.

Qatar Petroleum will hand over a group of business that includes the light industries areas in the east and west, the medium industries area and the temporary storage area for gabbro and raw materials. The transaction will go into effect as of January 2017. 

"It comes in line with QP’s strategy to focus on its core business activity and to entrust non-core business activities to specialized companies in their respective fields of expertise,” Saad Sherida Al-Kaabi, president and CEO of Qatar Petroleum, said.

Al-Kaabi noted that the 200 existing projects in the chosen areas represent a major opportunity for growth in Qatar.

“These projects play a big role in diversifying the economy and in transforming Qatar into a regional center for industrial activity and high value-added services as stipulated in the Qatar Vision 2030, the pillars of which guide Qatar Petroleum under the leadership of Tamim bin Hamad Al Thani, the emir of the State of Qatar,” Al-Kaabi said.

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