Jun 17 2008 |
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Dolphin Energy and ADNOC sign 25 years gas system lease agreement
Abu Dhabi, UAE, June 17 2008 - Abu Dhabi National Oil Company (ADNOC) and Dolphin Energy Limited yesterday signed a long term agreement for Dolphin to lease and operate ADNOC 's Eastern Gas Distribution System (EGDS) in the Emirate of Abu Dhabi. This well-established pipeline network will be managed by Dolphin Energy for 25 years.
The EGDS is currently used to supply gas to ADNOC 's customers in Abu Dhabi and Dubai and will be leased by Dolphin to deliver the company's processed gas from Qatar to customers across the UAE, and shortly to Oman. The Lease Agreement replaces a temporary Access Agreement and interim transportation agreements with ADNOC .
The EGDS Lease Agreement also specifies a direct swap arrangement where Dolphin Energy will deliver gas to ADNOC 's customers on behalf of ADNOC and ADNOC will provide gas to Dolphin 's customer on behalf of Dolphin .
HE Yousef Omeir Bin Yousef stated afterwards: " ADNOC , as the pioneering oil and gas producer in Abu Dhabi, is pleased to have established a long term yet flexible agreement with Dolphin Energy - one that will be of direct benefit to our customers and to consumers."
-Ends-
About
Dolphin Energy
Limited
Dolphin Energy Limited
was created to develop substantial energy projects throughout the GCC and 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 export pipeline from Qatar to the UAE, which began in July 2007.
The long term customers for
Dolphin
gas from Qatar are ADWEA (Abu Dhabi Water & Electricity Authority), UWEC (Union Water & Electricity Authority), DUSUP (Dubai Supply Authority) and from 2008 OOC (Oman Oil Company). Each has signed a gas supply agreement with
Dolphin Energy
for 25 years.
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 please contact:
Mariam Al Badr
DVP Corporate Communications
Tel +971 2 6995500
Fax +971 2 6995578
© Press Release 2008
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