Chairman's Message
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Qatar Petroleum: Providing the World with Reliable, Long-Term, Clean and Affordable Energy
 Our remarkable achievements in 2007 have been clearly demonstrated in the ever increasing output in all sectors of the energy industry. The record growth rate of Qatar’s economy is a direct result of the unprecedented level of expansion in the energy sector, in terms of both size and diversity of oil, gas and petrochemical projects. Stemming from the clear vision of His Highness the Emir Sheikh Hamad bin Khalifa Al Thani, Emir of Qatar, to build a modern self-sufficient and sustainable economy, we are implementing a strategy to achieve the optimal utilization of the country’s natural resources. Without his vision, the wealth of our gas reserves would not have been unlocked over one decade ago and none of the great works in the fields of education, science, art and culture, which we are seeing today in Qatar, would be possible.
In the crude oil business, the daily average production of Al-Shaheen field reached more than 300 thousand barrels in 2007, making Al-Shaheen the most productive field in Qatar. We are currently working with our partners Maersk Oil Qatar to increase the production capacity of the field to reach 525 thousand barrels per day.
Capitalizing on our huge reserves of natural gas, our multi-directional and fast-track strategy to develop the gas industry is making rapid progress. Our large investments to develop the gas industry, extend across the entire value chain of LNG trains, tankers, receiving and gas storages facilities and pipelines gas.
On 20th March, 2007, His Highness Sheikh Hamad bin Khalifa Al Thani, Emir of Qatar, officially inaugurated RasGas train 5. The inauguration of train 5 has reinforced our position as the world’s largest exporter of LNG. More than half of Qatar’s total 14 LNG trains are now in operation, the remaining trains from Qatargas and RasGas, each with an annual production capacity of 7.8 million tonnes, are currently under various stages of construction.
Based on our profound belief of the leading role that we play in the natural gas industry, we will continue providing the world with reliable, long-term, clean and affordable energy, helping to develop sustainable economic growth around the world. As the global LNG market continues to expand, we will continue pursuing our current expansion plans of LNG projects to raise the annual production capacity to 77 million tonnes by the year 2010.
The economies of scale which come from these mega-size trains is reflected also in the building of an LNG carrier fleet consisting of 56 vessels, including the largest in the world, QMax and QFlex types, capable of delivering 265 thousand cubic meters of LNG, which allows us to make long term commitments to safely and economically supply gas to our customers in almost all parts of the world including distant markets such as the US.
The progress in LNG business has coincided with another equally important development in the diversified gas industry strategy when the Dolphin project achieved its target daily production rate of two billion standard cubic feet of gas. The gas supply from Qatar to the United Arab Emirates goes through a sub-sea gas pipeline, and will shortly fulfill a gas sales agreement to supply Oman. Achieving the agreed maximum daily production rate is the result of commitment and cooperation between the two states at all levels. The magnitude of the Dolphin project symbolizes a real breakthrough in regional cooperation in the field of energy, and paves the way for similar projects in order to achieve common economic goals.
On 22nd February, 2007, His Highness Sheikh Tamim Bin Hamad Al-Thani, the Heir Apparent of the State of Qatar, laid the foundation stone for the Pearl Gas-to-Liquids facility, the world-scale largest integrated GTL project that will make Qatar the GTL capital of the world. When it is fully functional in 2011, the plant will generate 140,000 barrels per day of Naphtha, Diesel and Lube Base Stocks.
Laying the foundation stone of Qatalum aluminium plant marks the beginning of an aluminium industry in Qatar. By entering into the aluminium business, the State of Qatar is developing a new way to transform its energy into high-quality products for the export market. With Qatalum, Qatar will have a basic industry that will set the basis for a new wave of downstream factories that will flourish and produce added-value products for our domestic market as Qatalum will initiate new business opportunities based on aluminium starting from 2010.
On the other hand, the success we have made in developing Qatar’s domestic energy sector, coupled with the growth in the global energy demand, has encouraged us to develop an international position and invest globally in the energy business. Through the establishment of Qatar Petroleum International, we are investing in upstream, midstream and downstream sectors within the oil and gas value chain in order to build a strong portfolio of global assets.
However, while pursuing our ambitions we remain fully aware of our social and environmental responsibilities. We believe that development of natural resources has to be safe and does not damage the natural environment nor harm people. A critical key in addressing this challenge is to do it in a balanced fashion. Keen to preserve the natural environment and provide a safe and healthy workplace, we adhere to a set of stringent local and international regulations and policies.
In 2007 QP continued to organize and host several international and regional energy conferences that attracted leaders and experts from the energy industry. During the year, Qatar has won its bid to host the 20th World Petroleum Congress in 2011, after a massive promotion campaign to host this prestigious event. The WPC conference and exhibition, held every three years, is regarded as the largest event of its kind. This will be the first time in the 75-year history of the World Petroleum Congress that the premier event is being held in the Middle East. Also, Qatar is the first OPEC country to host the event. It will rightly showcase QP’s efforts to place Qatar at the front of the world’s energy industry.
Finally, I would like to take this opportunity to express my sincere appreciation to all Qatar Petroleum employees for their dedication and hard work in making 2007 a great year of milestone achievements.
Abdullah Bin Hamad Al-Attiyah
Deputy Prime Minister
Minister of Energy and Industry
QP Chairman and Managing Director
Chairman's Message from Qatar Petroleum 2007 Annual Report
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