#Qatar Petroleum signs initial deals to boost local energy industry | Reuters

Qatar Petroleum signs initial deals to boost local energy industry | Reuters:

Qatar Petroleum signed preliminary deals worth more than 9 billion Qatari riyals ($2.47 billion) on Monday with oil services firms Schlumberger and Baker Hughes to boost the local energy industry.

Qatar, the world’s top liquefied natural gas (LNG) exporter which is facing a trade boycott by some Arab states, wants to reduce reliance on imports and lift domestic production.

“As part of our national duty to develop the industry in Qatar and to promote self-reliance, we saw the need to localize many of the supporting industries in the sector,” QP Chief Executive Officer Saad al-Kaabi said at an event to sign memorandums of understanding with Schlumberger and Baker Hughes.