State-owned Qatar Petroleum has rolled out its new corporate strategy and core values, signalling a new era of growth for the company driven by an expansion of its North Field located in the Persian Gulf.
According to the company, the new strategy and core values were designed to firmly place the company on the road to realizing its vision “to become one of the best national oil and gas companies, with roots in Qatar and a strong international presence”.
The rollout signals a new era of growth for Qatar Petroleum, led by the planned expansion of offshore North Field production, which will further boost Qatar’s global position by raising its LNG production from 77 million to 100 million tons per year, the company explained.
It also comes amidst an increasing international upstream activity, which saw Qatar Petroleum’s footprint expand to include promising offshore areas spanning Latin America, Africa, the Mediterranean, and the Middle East.
Qatar Petroleum’s corporate strategy was rolled out during a three-day event held at QP headquarters, in which senior management and executives from Qatar Petroleum and its affiliates discussed its various elements and their implementation.
The strategy is designed to strengthen QP’s technical capability and operating model, maximize upstream value to the State of Qatar, create a large-scale value-adding international portfolio, re-inforce Qatar’s LNG & global gas position, maximize downstream added value, and promote energy efficiency & optimum energy mix in Qatar.
Speaking at the event, Saad Sherida Al-Kaabi, QP President & CEO, said: “The new strategy and values come at a critical time in our expansion, and will ensure that we continue to be a global LNG leader. Therefore, we should all be willing and prepared to embrace and lead change to ensure success.”
“We are developing a global business and are also enhancing our competitive position as a global energy player, leaving our positive mark across the world.”