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Dolphin Energy Signs Gas Sales Agreement To Supply Natural Gas To Oman
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Daily Flow of Dolphin Gas from Qatar in early 2008
Dolphin Energy Limited announced today that the company has signed a Gas Sales agreement with Oman Oil Company (OOC) to deliver an average 200 million standard cubic feet of gas per day (mmscf/day) to OOC from early 2008.
The agreement was signed in Abu Dhabi this morning by His Highness Sheikh Hamdan Bin Zayed Al Nahayan, Deputy Prime Minister and Minister of State for Foreign Affairs of the UAE and Chairman of Dolphin Energy Limited and by His Excellency Maqbool Ali Sultan, Minister of Commerce and Industry of the Sultanate of Oman and Chairman of Oman Oil Company.
It is based on detailed discussions between Dolphin Energy and OOC, subsequent to the signing of a Memorandum of Understanding (MOU) for future gas supply on April 20, 2004. A Joint Steering Committee was established under the MOU to determine commencement dates for gas supply, as well as quantities and price.
On this occasion HH Sheikh Hamdan said: "With the signing of this agreement, we can all celebrate the creation of a true GCC gas grid -- linking Qatar, the UAE and Oman. Dolphin Energy takes pride in its role in this substantial and important endeavor, and we look forward to supplying the Sultanate with natural gas for a 25 year period."
For OOC, HE Mr Sultan commented: "We are extremely proud to have signed this agreement with Dolphin which we strongly believe further strengthens the existing brotherly ties and enhances economic cooperation between the Governments of Oman and the UAE."
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