History of Oil and Gas
Qatar today is the largest producer and biggest exporter of LNG in the world. With the North Field expansion projects Qatar’s current (2021) LNG production capacity is expected to increase from 77 million to 110 million tonnes per annum by 2025 and 126 million tonnes per annum by 2027.
The history of Qatar’s oil and gas industry can be tracked back to the early 1930s, when geologists began conducting surveys in Qatar, following the discovery of oil in neighboring countries. The geological surveys and subsequent drilling activities eventually led to the discovery of Dukhan oil field in 1939.
Then came the historic discovery in the North Field in 1971. The North Field is the world’s largest non-associated gas field with proven reserves to last more than 600 years.
To effectively manage the country’s oil and gas resources including those that would be discovered later, Qatar General Petroleum Corporation (QGCP), was established through Emiri Decree No.10, which was issued on July 4, 1974. The main objective of the company was “to engage in all phases of the oil industry in Qatar and abroad” including the exploration, drilling and production of oil and natural gas, as well as the refining, transport, trading and export of these hydrocarbon substances and their by-products. QGPC was eventually renamed and rebranded as Qatar Petroleum (QP) in January 2001 and in October 2021 it was again rebranded as QatarEnergy.
The decades following the discovery of oil saw Qatar undergo a remarkable transformation in terms of economic growth and infrastructure development that has positively transformed its physical, social, cultural, and demographic status. Over time, the energy landscape has evolved considerably, now covering a wide variety of industries fueling economic growth domestically but also internationally.
Today, QatarEnergy remains true to its mandate with its activities encompassing the entire spectrum of the oil and gas value chain including the exploration, production, processing, marketing and sales of oil and gas and their products. As a leader, QatarEnergy is also strongly committed to providing affordable and cleaner solutions and playing a key role in the energy transition to a low carbon world.