12 December 2003
DUBAI - Qatar Petroleum and Dolphin Energy Limited announced yesterday the signing of the Final Field Development Plan for the forthcoming Dolphin Gas Project, according to the Development and Production Sharing Agreement (DPSA).
The plan, was signed by Abdullah bin Hamad Al Attiyah, Qatar's Second Deputy Premier and Minister of Energy and Industry, and by
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 programme, 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 100,000bpd and Natural Gas Liquids (NGL) products of around 8000 tonnes per day.
"The signature of the Development Plan further strengthens Qatar Petroleum's relationship with Dolphin Energy, following the signing of the original DPSA," said Al Attiyah at the signing ceremony.
The cross-border initiative is beneficial to both countries and is a fine example of energy and industrial cooperation that cements the financial commitment of Dolphin Energy to the project, he remarked.
Al Sayegh said that the Plan confirms the approval of financial and technical parameters under which the company will produce gas in Qatar. Qatar Petroleum is a state-owned corporation responsible for all phases of the oil and gas industry in Qatar while Dolphin Energy was created to develop substantial energy projects throughout the GCC states with the objective of creating long-term economic wealth and new business opportunities, 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 pipeline to the UAE, beginning 2006. Its first initiative will come on stream during the first quarter of next year when Dolphin's natural gas pipeline from Al Ain to Fujairah is inaugurated. The pipeline will supply the Union Water and Electricity Company in Fujairah, initially with natural gas from Oman, and subsequently with Dolphin gas from Qatar.
The shareholders in Dolphin Energy Ltd. are Mubaddala Development Company that is wholly owned by the Abu Dhabi Government, Total of France and Occidental Petroleum of the US.
BY A STAFF REPORTER
© Khaleej Times 2003
