Qatar Petroleum, Total Form New Company to Develop Oil Field

June 27, 2016 9:02 PM

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Qatar Petroleum and Total announced a joint venture to create a new company that will develop and operate one of the world's largest oil fields in the Arab Gulf country.

QP announced late Sunday that it will establish a new Qatari company called the North Oil Company, of which 70 percent will be owned by Qatar Petroleum and 30 percent by Total. As part of the joint venture, the state-owned oil and gas corporation licensed the rights for the production, sale and expo...

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