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21 April 2004 - The Oman Oil Company announced Tuesday the signature of a Memorandum of Understanding (MOU) with Dolphin Energy Limited, with a view to supply natural gas to the Sultanate of Oman.
The MOU provides for the creation of a Joint Steering Committee and Working Group to immediately negotiate Heads of Agreement (HOA) and then a Gas Sales and Purchase Agreement (GSPA) within the next 12 months.
Details to be established by the Joint Steering Committee will include the commencement dates for gas deliveries to Oman, gas quantities and price.
Since January 2004, Dolphin Energy has been taking delivery of natural gas from Oman, under a contract with Oman Oil Company signed on 6th February 2003, which provides for supply of an average 135 million cubic feet per day. This is for Dolphin's first energy initiative - to deliver gas through its new Al Ain-Fujairah pipeline to the Qidfa power and desalination plant of Union Water & Electricity Company (UWEC) on the UAE East Coast.
The Omani gas is delivered at a purpose-built tie-in junction on the Oman-UAE border near Al Buraimi. This junction was conceived and constructed so that in future years the flow of gas from Oman to the UAE could be reversed, if required - once Dolphin begins to receive its own substantial quantities
of gas from Qatar in 2006.
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 pipeline 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.
Dolphin Energy is owned 51 per cent by Mubadala Development Company, on behalf of the Government of Abu Dhabi - and 24.5 per cent each by Total of France and Occidental Petroleum of the USA.
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