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Companyasas
First cargoes of Dolphin Energy condensate go to tender for spot sale
Three 500,000 Barrel Cargoes Sold
Dolphin Energy Limited announced today that the first two cargoes of condensate produced from its natural gas wells offshore Qatar will be available for export during August 2007.
Each cargo will consist of 500,000 barrels of condensate for delivery FOB at Ras Laffan Terminal, Qatar to one or more successful bidders during the month of August.
These cargoes will be the first shipments of condensate from Dolphin’s gas wells in Qatar’s offshore North Field – spot offers were received by July 10, 2007.
The condensate -- a high-quality light oil extracted onshore from Dolphin’s raw North Field gas -- is a valuable by-product of the company’s Gas Processing Plant at Ras Laffan Industrial City, north of Doha.
Similarly valuable by-products such as ethane, propane and butane will shortly be produced at the Plant in substantial quantities, for sale on a regular basis to customers in the region and worldwide.
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