Addressing a FICCI business meet, Abdulla said Qatar was diversifying into investments in small and medium scale enterprises in downstream oil industries, for which, it was keenly looking forward to cooperate with India.
He said with a GDP growth rate of 20 per cent over the last decade, Qatar was investing heavily in oil, LNG projects, petrochemicals, urea and ethylene and sought to make India a strategic partner in its quest for two-way trade and business expansion.
Oil and gas account for over 55 per cent of Qatar's GDP, roughly 85 per cent of export earnings and 70 per cent of government revenues.
Qatar's proven oil reserves of 16 billion barrels are set to ensure continue output at current levels for 23 years.
Qatar's proven natural gas reserves exceed 14 trillion cubic meters, more than 5 per cent of the world's total and third largest in the world, a FICCI release said.
The development of offshore gas reserves to offset the natural decline in oil production is one of Qatar's long-term economic goals.