China's CNOOC Engineering (COOEC) has secured an EPCI contract for the redevelopment project of the Mahzam field in Qatar. This contract is valued at 50 billion yuan (approximately 7 billion dollars) and will contribute to significant advancements in the region's oil and gas industry.
EPCI Contract Details
COOEC announced that this contract includes the EPIC2 package, which encompasses engineering, procurement, construction, and installation. The project involves over 100 kilometers of subsea pipelines, cables, and auxiliary systems, along with related infrastructure in the sea.
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Related Projects for the Mahzam Field
The redevelopment project of the Mahzam field is part of QatarEnergy's broader plans for the development of the country's mature oil fields. The Mahzam field is located approximately 110 kilometers northeast of the Qatari mainland and has been producing oil since 1965. The redevelopment plans include drilling 45 new wells and working on reservoirs A, B, C, and D.
Last September, a major contract for the Mahzam field was awarded to PetroVietnam Technical Services Corporation (PTSC), which included design, procurement, construction, transportation, and installation at sea. Although PTSC has not officially disclosed the value of its contract, Vietnamese media reports estimate it to be around 3 billion dollars.
Future Outlook
QatarEnergy is looking to improve infrastructure and increase production capacity at the Mahzam field. This includes upgrades to existing well jackets, at least one new well jacket, and updates to pipelines and other subsea infrastructure. Given the scale of investments and ongoing projects, Qatar is expected to become a major player in the region's oil and gas sector.
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