Qatari Oil Minister Abdullah bin Hamad Al Attiyah said Tuesday the Organization of Petroleum Exporting Countries output cuts are helping balance the crude market, but greater compliance with quotas is needed.

Speaking at the inauguration of the South Hook LNG terminal in Milford Haven, South Wales, he also called for independent oil companies and service operators to take on more of the burden of lower oil prices by renegotiating operating terms that were agreed when prices were near record highs.

"We have to re-evaluate our positions and go back to 2006," he said, suggesting that energy companies and oil services providers should look again at existing agreements in light of a new, tougher price environment.

Total chief executive officer Christophe de Margerie, also attending the inauguration, agreed that cooperation among firms operating within the energy production sector was needed to ensure companies weren't overburdened by the fall in oil prices from last year's highs.

-By Angela Henshall, Dow Jones Newswires; +44 (0)20 7842 9285; angela.henshall@dowjones.com