QGPC c.s. sign M.o.U. on condensate refinery

Mar 25, 1997 01:00 AM

Mar, 3, 1997 Qatar General Petroleum Corp. (QGPC) and its foreign partners in the Qatargas and Rasgas LNG projects have signed a memorandum of understanding to set up an gas condensate refinery. A feasibility study will be carried out to determine the size of the proposed refinery.
The exported-orientated refinery at Ras Laffan is expected to be operational in 2001 at a capital cost of $ 340 mm. Partners in Qatargas and Rasgas are Mobil, Total, Marubeni, Mitsui, Nissho Iwai and Itochu. The refinery would process condensate produced as a result of the exploitation of the North Field which is the backbone of LNG development in Qatar.
Qatar currently produces 80,000 bpd of condensate which is exported mainly to the Far East but output is expected to reach more than 200,000 bpd by the year 2000 when the North Field is tapped further by Qatargas and Rasgas.

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