Event Celebrates Completion of $ 4.8 Billion Dolphin Gas Project
Abu Dhabi, UAE, May 12 2008 - His Highness Sheikh Tamim Bin Hamad Al Thani, Crown Prince of Qatar, His Highness Sheikh Mohammed Bin Zayed Al Nahayan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, His Highness Sheikh Hamdan Bin Zayed Al Nahayan, UAE Deputy Prime Minister and Chairman of Dolphin Energy Limited and His Highness Sheikh Mansour Bin Zayed Al Nahayan, UAE Minister of Presidential Affairs, today celebrated the inauguration of the Dolphin Gas Processing Plant in Qatar.
They were accompanied during the formal Inauguration Ceremony by senior Qatari, UAE and Omani Government officials, the Board of Directors and Senior Management Team of Dolphin Energy, plus other guests.
His Highness the Crown Prince of Qatar formally undertook the inauguration at Dolphin Energy's Processing Plant in Qatar's Ras Laffan Industrial City. The Dolphin Gas Processing Plant is the largest single-build gas plant in the world and is central to Dolphin's operations.
The ceremony marked the successful completion of the Dolphin Gas Project - the largest gas initiative ever undertaken in the Gulf Region. The seven year construction program has seen the creation of a full energy value chain - from gas wells offshore Qatar, onshore processing plant, gas export pipeline to the UAE and substantial gas supplies to customers across the seven Emirates.
Addressing inauguration guests during the official press conference, Ahmed Ali Al Sayegh, CEO of Dolphin Energy, said: "I want personally, and sincerely, to thank His Highness Sheikh Hamad bin Khalifa Al Thani, the Emir of Qatar; His Highness Sheikh Khalifa Bin Zayed Al Nahayan, President of the UAE and Ruler of Abu Dhabi; His Highness Sheikh Mohammed Bin Zayed Al Nahayan, the Crown Prince of Abu Dhabi; His Highness Sheikh Hamdan Bin Zayed Al Nahayan, Deputy UAE Prime Minister and Dolphin Chairman, for their constant support and commitment - as well as the Qatar Government, Qatar Petroleum and our shareholders, Mubadala, Total and Occidental Petroleum, for their important contributions."
He added: "It is with great pride that our Board is here today to celebrate this tremendous accomplishment with everyone who has been involved in the Dolphin Gas Project."
The overall investment in constructing the entire Dolphin Gas Project, which includes 24 wells, 2 production platforms, twin sealines, processing plant, export pipelines and receiving facilities has been over $4.8 Billion.
Dolphin is already supplying up to two billion standard cubic feet of refined natural gas, every day, to utilities, industries and consumers throughout the UAE.
Mr Al Sayegh concluded: "Today we reiterate our long term focus and vision: Dolphin is a major source of clean, new energy for the Southern Gulf and a catalyst for the region's economic growth. We are very proud to have achieved so much - we now face our responsibility to deliver very substantial quantities of gas to our customers, every day, for many decades to come."
The Dolphin Gas Project has been created and built through years of collaboration and consultation, drawing together the vision and resources of the region with multinational capital and expertise.
It is a regional energy network which involves the production of natural gas from Qatar's North Field, processing and extraction of valuable by-products at Ras Laffan, and transportation of the processed gas by subsea pipeline across joint UAE-Qatari waters to the UAE (thereafter, from 3rd Quarter 2008, to Oman).
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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 3rd Quarter 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 contact:
Mariam Al Badr
Corporate Communications Manager
Tel +971 2 6995500
Fax +971 2 6995578
© Press Release 2008
