Sojitz has undertaken production of crude oil in Qatar through Qatar Petroleum Development Co., Ltd. (QPD; Head office: Minato-ku, Tokyo; President Keiichiro Okabe; 14.2% stake held by Sojitz), a joint venture between Sojitz and Cosmo Oil Co., Ltd. The crude oil produced will be shipped from Halul Island in Qatar as Qatar Marine Crude Oil and the entire volume will be brought into Cosmo Oil refineries. The initial production volume will be 6,000 barrels per day (800 barrels per day of the Sojitz equity portion), and a peak production volume of 10,000 barrels per day (1,400 barrels per day of the Sojitz equity portion) is expected to be reached by March 2008 as a result of additional development.
