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Qatar Petroleum and Dolphin Energy Sign The Final Development Plan For the Dolphin Gas project
Qatar Petroleum and Dolphin Energy Limited announced today the signing of the Final Field Development Plan for the forthcoming Dolphin Gas Project, according to the Development and Production Sharing Agreement (DPSA) dated December 23rd 2001.
The Plan, signed yesterday at Qatar Petroleum’s Headquarters in Doha, was signed by His Excellency Abdullah Bin Hamad Al Attiyah Qatar’s Second Deputy Premier and Minister of Energy and Industry, and by Mr. Ahmed Ali Al Sayegh, Dolphin Energy’s Chief Executive Officer.
The signing of the Development Plan represents the final investment decision for the project and sets out the details for the various development stages drilling program, offshore and onshore construction, compression station and export facilities.
Once the Development Plan is fully implemented in 2006, Dolphin Energy will produce natural gas from Qatar’s offshore North Gas Field and process it onshore at Ras Laffan Industrial City to extract Condensate and NGL products. The resulting Export Gas will subsequently be transported by the Dolphin pipeline to the UAE.
The Project will attain full capacity within two years of production commencement with export gas rate of 2 billion square feet per day (bscfd), condensate production of around 100,000 barrels per day (bpd) and Natural Gas Liquids (NGL) products of around 8000 Tons Per Day (tpd).
At the signing ceremony, H.E. Al Attiyah said: “The signature of this Development Plan further strengthens Qatar Petroleum’s relationship with Dolphin Energy, following the signing of the original Development & Production Sharing Agreement (DPSA) December 2001.
“This cross border initiative is beneficial to the people of both countries, and is a fine example of energy and industrial cooperation between brotherly GCC countries. The plan also cements the financial commitment of Dolphin Energy to the Project,” H.E. added.
For Dolphin Energy, Mr. Al Sayegh stated: “The Development Plan confirms the approval of both Qatar Petroleum and Dolphin Energy on key financial and technical parameters under which our company will produce gas in Qatar.
“We are grateful for the continuing support of the Qatari Government, and of Qatar Petroleum, in helping us drive this unique initiative to completion. Mr. Al Sayegh added.
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