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Dolphin And Emarat Sign Mou To Work On Future Gas Joint Ventures In Northern Emirates
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Dolphin Energy's New Al Ain – Fujairah Pipeline will be Operated and Maintained by Emarat
Dolphin Energy Limited and Emirates General Petroleum Corporation (Emarat) today signed a Memorandum of Understanding (MOU) that appoints working teams from both parties to study the commercial viability of new joint gas ventures in the Northern Emirates.
Both parties will evaluate potential benefits from joint use of existing gas distribution assets, collective gas sales and marketing and future gas transportation systems.
Dolphin Energy and Emarat are also in the process of finalizing detailed agreements for Emarat to undertake the Operations and Maintenance of Dolphin’s new Al Ain – Fujairah gas pipeline.
Dolphin’s 24-inch, 182-kilometer long Al Ain to Fujairah pipeline will be completed before year end, for commissioning during First Quarter, 2004.
It will transport Dolphin natural gas, sourced from Oman, to the new Union Water and Electricity (UWEC) power and desalination plant on the UAE’s East Coast. Dolphin’s supplies from Qatar will become available in subsequent years.
The MOU was signed in Abu Dhabi by Dolphin Energy CEO, Ahmed Ali Al Sayegh and the GM of Emarat, Rashid Hamad Al Shamsi. Mr Al Sayegh said,
" Our Chairman His Highness Sheikh Hamdan Bin Zayed Al Nahayan and the UAE Minister of Petroleum & Mineral Resources, His Excellency Obaid bin Saif Al Nassiri have played an instrumental role in turning this initiative into a reality."
Mr Al Sayegh added: “We are delighted to initiate this important relationship with Emarat – one of a growing range of Dolphin strategic alliances.
“There are major synergies between our two businesses, and we have much to learn from each other. We look forward to establishing practical working links as soon as possible.”
Mr Al Shamsi stated: "We look forward to working with Dolphin Energy on this exciting initiative in the Northern Emirates. This MOU establishes a template for a long-term association with Dolphin, which we confidently expect to lead to considerable new business."
Emarat, which is wholly owned by the UAE Federal Government, currently operates 360 kilometers of underground gas pipeline – supplying customers throughout the five Northern Emirates from Sharjah’s Sajaa Gas Compression Station and its associated gas fields.
Dolphin Energy Limited
Dolphin Energy Limited was created to develop substantial energy projects throughout the GCC. Its objective is to create long-term economic wealth and new business opportunities for GCC citizens, far into the future. Dolphin Energy’s major strategic initiative, the Dolphin Project, involves the production and processing of natural gas from Qatar’s North Field, and transportation of the dry gas by sub-sea pipeline across joint UAE-Qatari waters to the UAE, beginning in 2006.
Dolphin Energy’s first initiative, the Al Ain to Fujairah Pipeline, came on stream in January 2004.The pipeline supplies the Fujairah Water and Power Plant on the UAE’s East Coast – initially with natural gas from Oman, and subsequently with Dolphin gas from Qatar. In May 2005, Dolphin began to supply natural gas to the UAE Emirate of Ras Al Khaimah. The gas is being delivered via a tie-in near Qidfa between Dolphin’s Al Ain - Fujairah pipeline and the existing Emarat gas pipeline network.
Dolphin Energy is owned 51 percent by Mubadala Development Company, on behalf of the Government of Abu Dhabi – and 24.5 percent each by Total of France and Occidental Petroleum of the USA.
Detailed information about Dolphin Energy can be found on www.dolphinenergy.com
For further information contact:
Mirna Hijazi
Corporate Communications Manager
Tel +971 2 6995500
Fax +971 2 6995578