13 December 2003
Doha: Qatar Petroleum (QP) and Dolphin Energy Limited signed on Thursday the Final Field Development Plan for the forthcoming Dolphin Gas Project estimated to cost between $3.5bn and 4.7bn according to the Development and Production Sharing Agreement of December 23rd 2001.
The signing of the Development Plan represents the final investment decision for the project and sets out the details for the various development stages, including 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 Natural Gas Liquid (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 the beginning of production with export gas rate of two billion square feet per day (bscfd), condensate production of around 100,000 barrels per day (bpd) and NGL products of around 8000 tons per day.
Second Deputy Premier and Minister of Energy and Industry H H Abdullah bin Hamad Al Attiyah and Dolphin Energy’s Chief Executive Officer Ahmed Ali Al Sayegh, signed the Final Field Development Plan at QP headquarters.
Al Attiyah later told reporters the signature of the Development Plan further strengthens QP’s relationship with Dolphin Energy.
“This cross border initiative is beneficial to the people of both countries and is a fine example of energy and industrial co-operation between brotherly GCC countries. The plan also cements the financial commitment of Dolphin Energy to the projects”, he said.
He added that the mutually cross border initiative, which is the first of its kind in the Gulf region serves as a model for energy and industrial co-operation among GCC member states.
He said the project was the fastest energy related ever to be implemented since the project was initiated taking only two and a half years for the first gas to be transported to UAE, he said.
With the landmark development plan, Qatar and the UAE have indeed laid down the foundation stone for the development of the GCC network.
Dolphin Energy’s CEO noted that the Development Plan confirms the approval of both QP and Dolphin Energy on key financial and technical parameters under which Dolphin Energy will produce gas in Qatar.
“We are grateful for the continuing support of the Qatari Government and QP in helping us drive this unique initiative to completion”, he said.
The Dolphin Gas Project is designed to produce and supply large quantities of natural gas from offshore Qatar to the UAE for 25 years, starting from the third quarter of 2006.
Total of France became a shareholder in 2000 and Occidental Petroleum of US in 2002. According to its shareholding structure, Dolphin Investment Company (DIC) holds a 51 per cent stake, Total 24.5 per cent and Occidental petroleum 24.5 per cent. DIC is wholly owned
by the Government of Abu Dhabi.
Dolphin Energy’s mandate is to construct by 2006 a 48-inch, 400 km-plus pipeline between Qatar and the UAE and to produce, process and transport through the pipeline two billion cubic feet of natural gas per day.
Doha: Qatar Petroleum (QP) and Dolphin Energy Limited signed on Thursday the Final Field Development Plan for the forthcoming Dolphin Gas Project estimated to cost between $3.5bn and 4.7bn according to the Development and Production Sharing Agreement of December 23rd 2001.
The signing of the Development Plan represents the final investment decision for the project and sets out the details for the various development stages, including 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 Natural Gas Liquid (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 the beginning of production with export gas rate of two billion square feet per day (bscfd), condensate production of around 100,000 barrels per day (bpd) and NGL products of around 8000 tons per day.
Second Deputy Premier and Minister of Energy and Industry H H Abdullah bin Hamad Al Attiyah and Dolphin Energy’s Chief Executive Officer Ahmed Ali Al Sayegh, signed the Final Field Development Plan at QP headquarters.
Al Attiyah later told reporters the signature of the Development Plan further strengthens QP’s relationship with Dolphin Energy.
“This cross border initiative is beneficial to the people of both countries and is a fine example of energy and industrial co-operation between brotherly GCC countries. The plan also cements the financial commitment of Dolphin Energy to the projects”, he said.
He added that the mutually cross border initiative, which is the first of its kind in the Gulf region serves as a model for energy and industrial co-operation among GCC member states.
He said the project was the fastest energy related ever to be implemented since the project was initiated taking only two and a half years for the first gas to be transported to UAE, he said.
With the landmark development plan, Qatar and the UAE have indeed laid down the foundation stone for the development of the GCC network.
Dolphin Energy’s CEO noted that the Development Plan confirms the approval of both QP and Dolphin Energy on key financial and technical parameters under which Dolphin Energy will produce gas in Qatar.
“We are grateful for the continuing support of the Qatari Government and QP in helping us drive this unique initiative to completion”, he said.
The Dolphin Gas Project is designed to produce and supply large quantities of natural gas from offshore Qatar to the UAE for 25 years, starting from the third quarter of 2006.
Total of France became a shareholder in 2000 and Occidental Petroleum of US in 2002. According to its shareholding structure, Dolphin Investment Company (DIC) holds a 51 per cent stake, Total 24.5 per cent and Occidental petroleum 24.5 per cent. DIC is wholly owned
by the Government of Abu Dhabi.
Dolphin Energy’s mandate is to construct by 2006 a 48-inch, 400 km-plus pipeline between Qatar and the UAE and to produce, process and transport through the pipeline two billion cubic feet of natural gas per day.
© The Peninsula 2003
