One of Qatars newer Oil fields is al-Rayyan, operated by Anadarko Petroleum, which bought the stakes in the project previously owned by BP, BG, Wintershall, and Gulfstream Petroleum in a series of transactions in 2001 and 2002. The field came on stream in November 1996, producing 20,000 bbl/d of heavy oil from four wells. It lies in offshore Block 12 at the southern edge of the North Field near Ras Laffan. The PSA for the field was signed on July 16, 1997. The field currently is producing about 70,000 bbl/d. Anadarko acquired exploration acreage in May 2004, in Block 4 adjacent to Block 12. The company plans to conduct exploratory drilling in Block 4 over a five-year period.