North Oil Company

What North Oil Company does

North Oil Company (NOC) is a Qatari joint venture established on July 14, 2017 between QatarEnergy and TotalEnergies to operate and develop the Al Shaheen oil field, located 80 km northeast of Ras Laffan. Al Shaheen is Qatar's largest producing offshore oil field and accounts for approximately 45% of the region's oil production. NOC produces roughly 100 million barrels of crude oil per annum and operates an extensive infrastructure footprint comprising 38 platforms, 430+ wells, 5 jack-up rigs, and two of the world's largest double-hulled floating storage and offloading (FSO) vessels. The company's products are sold as crude oil to international buyers, refineries, and trading companies via offtake agreements at international market prices; NOC has no involvement in LNG or other hydrocarbon product sales.

The company's core technology stack includes a Digital Twin program (initiated 2020) that creates a virtual replica of surface operations, integrated production optimization systems, 4D seismic analysis with subsurface geological and reservoir mega-models running on high-performance computing, and proprietary extended-reach drilling techniques that have set industry records (including a 30,055 FT longest well in 2021 and a 7,501 ft/24-hour drilling record in 2022). Workforce comprises 87 nationalities with more than 130 geoscientists and reservoir engineers, supported by structured development programs. Major capital projects include the three-batch Gallaf expansion (final first oil December 2024) and the follow-on Ruya expansion project in early-stage development.

NOC operates as a sales-led B2B enterprise with no consumer-facing distribution. Revenue mechanics are commodity-based (crude oil priced at international market rates) rather than contract-based, and distribution is managed through the FSO vessel fleet. The business model is fundamentally capital-intensive upstream oil production, with competitive advantage derived from regulatory franchise (state-backed JV), infrastructure scale, proprietary technical expertise in complex drilling and reservoir management, and accumulated operational data feeding digital optimization systems. Marketing channels are limited to a corporate website, public tender processes for suppliers, and stakeholder engagement through industry events and educational outreach.

Name

North Oil Company

Legal name

North Oil Company

Website

https://noc.qa

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

North Oil Company is a QatarEnergy-TotalEnergies joint venture operating the Al Shaheen offshore oil field, producing approximately 100 million barrels of crude oil annually for international buyers via large FSO vessels.

Ownership category

akta.pro rank

Product category

Offshore Crude Oil Production

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (211)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

akta.pro secondary industries

Drilling & Well Construction (E&P Operator-led) (EUALAAAD), Crude Oil Tanker Shipping (EUALADAG)

Keywords

• Offshore oil production
• Crude oil extraction
• Oil field operations
• Reservoir management
• Extended reach drilling

Headquarters

HQ city

Doha

HQ country

Qatar

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Crude Oil Production and Sales: North Oil Company produces approximately 100 million barrels of crude oil per annum from the Al Shaheen field. Crude oil is sold to international buyers via two of the world's largest floating storage and offloading vessels (FSOs). The company is solely involved in crude oil production and has no connection with LNG or other hydrocarbon product sales.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

North Oil Company is a Qatar-based joint venture between QatarEnergy and TotalEnergies that produces and sells approximately 100 million barrels of crude oil per annum from the Al Shaheen offshore oil field, Qatar's largest producing oilfield. It manages the full lifecycle of offshore operations across 38 platforms and 430+ wells, distributing crude through two of the world's largest FSO vessels to international buyers, refineries, and trading companies at international market prices.

Product overview

North Oil Company (NOC) operates the Al Shaheen oil field, Qatar's largest producing offshore oilfield, producing approximately 100 million barrels of crude oil per annum. NOC is structured as an oil production company with major expansion projects (Gallaf and Ruya), digital technology initiatives (Digital Twin), and workforce development programs (HSE Academy, National Development Programme, Leadership Development Programme, and Mentoring Programme). The company operates 38 platforms and 430+ wells, managing operations through both offshore and onshore headquarters with real-time data capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil from Al Shaheen Field Crude oil produced from the Al Shaheen offshore field at approximately 100 million barrels per annum, representing about 45% of the region's oil production. Sold to international buyers, refineries, and trading companies through offtake agreements and direct sales, with distribution managed via two of the world's largest double-hulled FSO vessels.

Quantifiable outcome

• 45% of region's oil production from Al Shaheen field
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• QatarEnergycoreStrategic or Co-development Partner · 14 July 2017Joint venture partner and co-owner of North Oil Company. QatarEnergy and TotalEnergies established NOC in 2017 to operate and develop the Al Shaheen oil field. QatarEnergy holds a majority stake in the joint venture.
• TotalEnergiescoreStrategic or Co-development Partner · 14 July 2017Joint venture partner and co-owner of North Oil Company. TotalEnergies was selected as the winning partner following a competitive process initiated in 2015 to develop and operate the Al Shaheen oil field.

Scale indicators7 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Eni: Integrated IOC with offshore upstream interests and advanced EOR/IOR capabilities, comparable as a global operator deploying digital and reservoir management techniques at scale.
• Shell: Global supermajor with deep offshore E&P expertise and major floating production systems, relevant for benchmarking digital offshore operations and extended-reach drilling execution.
• BP: Global IOC with significant offshore production and digital-twin/integration initiatives in upstream, making it comparable to NOC on offshore operating style and technology adoption.
• TotalEnergies: NOC's joint-venture partner and parent; as a global supermajor it offers relevant comparison for offshore E&P execution, JV governance, and integrated production optimization at world scale.
• Saudi Aramco: World's largest integrated NOC with significant offshore production alongside a much broader upstream-downstream portfolio, providing a regional incumbent benchmark for NOC's Gulf operations.

Direct peers

• Petrobras: Brazilian state oil company and a major offshore deepwater producer, sharing the offshore E&P operating profile, technological intensity, and large-platform/well infrastructure that defines NOC.
• ADNOC: UAE national oil company operating large offshore oil fields in the Gulf alongside a JV structure, making it a close regional counterpart in scale, asset type, and partnership-driven operating model.
• Equinor: Norway-headquartered international E&P operating large, technically complex offshore oil and gas fields with leading digital and drilling technology — directly comparable to NOC's offshore operating model.

Regional players

• Kuwait Oil Company: Regional Gulf NOC operating large oil fields including offshore acreage, comparable in geographic context, JV-driven operating history, and state-backed capital structure.

Emerging players

• ConocoPhillips: Large independent E&P with notable offshore positions and a focus on production optimization, providing a benchmark for capital-efficient offshore operations against NOC's JV-heavy model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NorthOilCompany
• Facebookfacebook.com/North-Oil-Company-2304588402902042
• LinkedInlinkedin.com/company/north-oil-company-qatar

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about North Oil Company