Chevron, Shell, and Maersk Oil are reportedly among a group of companies who have placed bids to operate the largest offshore field in Qatar.
A source close to the matter told Bloomberg that Chevron, Royal Dutch Shell, Total SA, ConocoPhillips and Maersk Oil Qatar have placed bids to operate the Al-Shaheen field.
The field is owned by state-run Qatar Petroleum and currently produces about 300,000 barrels of crude per day.
The companies have not commented on reports of the bids.
Qatar Petroleum told Bloomberg that Maersk Oil Qatar was one of the firms invited to make a bid to manage the field.
Maersk has developed and managed Al-Shaheen since 1992 but its agreement with Qatar Petroleum ends in the middle of 2017.
Qamar Energy CEO Robin Mills told Bloomberg that a new deal for the field could likely see Qatar Petroleum take as much as a 70 percent stake in the field.
According to Maersk, Al-Shaheen contributes 40 percent of Qatar’s daily oil production and has produced over 1.5 billion barrels of oil.
Maersk said last May that it had initiated an evaluation process for the selection of a partner to undertake the future development of the Al-Shaheen field.
“We have known that we would be challenged on terms and conditions in connection with the 2017 extension and have been awaiting more information on how Qatar Petroleum wished to go about such a process. We look forward to this opportunity to continue our partnership with Qatar Petroleum, based on our long term commitment and detailed technical knowledge,” Maersk Oil CEO Jakob Thomasen said last year.
According to the U.S. Energy Information Administration, Qatar’s crude production is the second lowest in the Organization of the Petroleum Exporting Countries.
Three of the country’s oil fields account for more than 85 percent of Qatar’s crude oil production capacity.