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Total has won a 30 percent stake in a new 25-year contract to operate Qatar`s largest offshore oilfield. officials have said. in the second major upstream development deal for the French oil firm in the Gulf region in as many years.
State-owned Qatar Petroleum (QP) will keep the remaining 70 percent in the new joint venture for the Al-Shaheen field. which is 80 km (50 miles) off Qatar`s coast and currently produces around 300.000 barrels per day (bpd).
Six international oil firms including BP and Royal Dutch Shell Plc have bid to operate the oilfield.
The deal announcement on Monday is a blow to Denmark`s AP Moller-Maersk. which has been operating the oilfield since 1992.
For years it was expected that Maersk Oil would renew its 25-year production agreement on Al-Shaheen field when its licence runs out in 2017. But the Gulf state surprised the company last year by putting out a tender for the field.
Maersk submitted a new bid for the field but Total has made the best offer.
