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DEL NL Feb 2005 Eng print 3/5/05 7:52 PM Page 2 ABU DHABI CROWN PRINCE IN DOHA Visits Dolphin Energy Facilities in Ras Laffan $1.3 BILLION PROJECT FINANCE RAISED Funding Received from 16 Leading Banks TAWEELAH EPC CONTRACT AWARDED To Receive and Monitor Qatar Gas THE NEWSLETTER OF DOLPHIN ENERGY LTD | FEBRUARY 2005 DOLPHIN ENERGY LIMITED | Creating wealth, economic growth and employment for citizens of the region far into future sight in dolph DEL NL Feb 2005 Eng print 3/5/05 7:53 PM Page 3 The CEO Writes: “SHEIKH ZAYED – VISIONARY, MODERNISER, AND ABOVE ALL, LEADER” “Today, I would like to express continue to build a prosperous invest the increasing income Sheikh Zayed was a real my feelings – which I am sure and progressive society for from oil as wisely and carefully leader… a man of belief, of that many of you will echo – years to come. as possible. Testimonial to his character, and of honour. This about the unique contribution achievements is the existing will be carried forward with the made to the lives of everyone He worked hard not only to infrastructure – the schools, leadership of His Highness in the UAE by the father of our help the young, the scholarly universities, road networks, Sheikh Khalifa Bin Zayed Al nation, the late Sheikh Zayed and the established, but also airports and hospitals. The Nahayan, President of the UAE. Bin Sultan Al Nahayan. We the old, the sick, and country also plays a prominent loved Sheikh Zayed our father particularly national women, role in the Arab world and is Long may we try to live up to and we were always close to his whose place in society he widely acknowledged for its Sheikh Zayed’s example and heart. strove to improve. He had a accomplishments. strive towards his unique vision clear vision of what his people for the UAE and its people.” The late President, Sheikh needed, and he did his best to His vision of the UAE as a Zayed built the UAE from help them meet their personal prosperous society is here for strength to strength - to make aspirations – while never letting all to see, and the -- Ahmed Ali Al Sayegh it what it is today. He lead the them forget their traditions. implimentation of his vision country through an era of was an incredible achievement modernity and established a Sheikh Zayed used every skill which transformed the UAE and foundation for the UAE to and opportunity available to its people. 2 DEL NL Feb 2005 Eng print 3/5/05 7:53 PM Page 4 CROWN PRINCE’S VISIT TO DOLPHIN’S RAS LAFFAN FACILITIES His Highness Sheikh Mohammed Bin Zayed, Crown Prince of Abu Dhabi, paid an official visit to Qatar on January 5 and 6, 2005. There he was warmly welcomed by the Emir of Qatar, His Highness Sheikh Hamad Bin Khalifa Al Thani, and the Heir Apparent His Highness Sheikh Tamim Bin Hamad Al Thani. Dolphin CEO Ahmed Ali Al Sayegh was among Sheikh Mohammed’s delegation, and escorted him to visit Dolphin facilities in Ras Laffan. HH Sheikh Mohammed with HE Abdullah Bin Hamad Al Attiyah, Qatar’s 2nd Deputy Premier and Minister of Energy and Industry, during their visit to Dolphin’s facilities in Ras Laffan RAS AL KHAIMAH WILL BUY DOLPHIN GAS FROM 2005 In October 2004, Dolphin signed A quantity of about 40 million cubic For the Ras Al Khaimah Gas working relationship with Ras Al an important new supply feet will be supplied daily, for a Commission, His Highness Sheikh Khaimah, and to be supplying agreement – to deliver natural gas period of two years and five months Saud stated: “The Commission natural gas to the Emirate for the to the Emirate of Ras Al Khaimah through to end of July 2007. welcomes its new relationship first time. We hope to gain a sound from March 2005. with Dolphin Energy, and looks understanding of Ras Al Khaimah’s The Gas Sales Agreement was forward to building on this requirements and to establish a The gas will be supplied to the Ras signed by His Highness Sheikh association with Dolphin. This basis for future supply expansion.” Al Khaimah (RAK) Gas Commission. Saud Bin Saqr Al Qasimi, Crown exciting initiative will help fuel It will be received through a tie-in Prince and Deputy Ruler of the future industries in Ras Al Dolphin is able to supply gas to with the existing Emarat gas Emirate of Ras Al Khaimah (on Khaimah.” Ras Al Khaimah, further to its pipeline network near Qidfa in behalf of the Ras Al Khaimah Gas signature of a Gas Sales & Purchase Fujairah, which already serves the Commission) and by Dolphin’s Mr Al Sayegh added: “Dolphin is Agreement (GSPA) with Oman Oil UAE’s Northern Emirates. CEO, Ahmed Ali Al Sayegh. delighted to have established this Company in February 2003. HH Sheikh Saud Bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, with the CEO at the HH Sheikh Saud Bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, signing the Dolphin signing ceremony supply agreement ISSUE SEVEN Ras Al Khaimah to buy gas 3 Dolphin raises $1.3 billion 4 Environment award 5 Exhibitions report 6,7 Qatar news 8,9 ontents Dolphin sponsorships 11 New archeological dig 12 Dolphin in pictures 18 C Front Cover: HH the Emir of Qatar, Sheikh Hamad Bin Khalifa Al Thani, greeted HH Sheikh Mohammed Bin Zayed Al Nahayan, Crown Prince of Abu Dhabi, during his official visit to Qatar in early January. Editors: Stefan Kemball, Mirna Hijazi, Shefali Jashanmal DEL NL Feb 2005 Eng print 3/5/05 7:54 PM Page 5 DOLPHIN SIGNS US$1.36 BILLION LOAN AGREEMENT Funded by 16 Local, Regional and International Banks The CEO, Project Finance Director Tony Boon and guests – at the dinner held to celebrate the Loan Agreement Dolphin signed a $1.36 billion for the Dolphin Project. five year bridge financing deal Capital to serve as Co- Loan Agreement on July 21 with has initial pricing of 45 basis Documentation Bank, National a consortium of 16 local, regional, With the award of our major points over Libor. Bank of Abu Dhabi to serve as and international banks. The engineering, procurement, and Facility Agent, and First Gulf Bank proceeds will be used to fund a construction contracts earlier this Dolphin appointed Abu Dhabi and HSBC to serve as Security significant portion of our year, Dolphin is now entering a Commercial Bank to serve as Trustees. construction and operating costs phase of heavy expenditure. The Documentation Bank, Barclays DOLPHIN AWARDS CONTRACT FOR TAWEELAH RECEIVING FACILITIES Successful Bidder, Technip/Al Jaber, will also Build the Associated Pipelines Dolphin announced in Export Pipeline from Qatar. The Power Stations and to the November 2004 that it had award represents the last major existing Maqta-Jebel Ali awarded the contract for its EPC contract for the Dolphin Pipeline. Taweelah Gas Receiving Facility Project itself. and associated pipelines to the Other pre-qualified bidders Technip (Abu Dhabi) & Al Jaber The facilities will be built were Dodsal Pte, JFE Energy Services Consortium of adjacent to the existing Engineering, National the UAE. The contract’s value is Taweelah Power Station. They Petroleum Construction in excess of $62 million. will initially comprise three Company, Petrofac parallel gas receiving trains & International, Technimont and This engineering, procurement associated equipment, the Willbross Middle East/Al and construction (EPC) award metering facilities, control Hussam Joint Venture. will cover the building of the buildings & warehouse – plus onshore receiving facilities at additional interconnecting Taweelah for our forthcoming pipelines to the Taweelah 4 DEL NL Feb 2005 Eng print 3/5/05 7:54 PM Page 6 ANNUAL ENVIRONMENT AWARD OF “PIPELINE MAGAZINE” GIVEN TO DOLPHIN Our Three-Year Coral Reef Preservation Project Selected by Readers as the 2004 Winner In December 2004, Dolphin was and SCENR (Qatar’s Supreme selected by readers of the Council for the Environment & regional energy journal ‘Pipeline Nature Reserves). Magazine’ as winner of its Annual Excellence in Energy Award for He added: ”We are proud of the ‘Best in Environment’. recognition of our peers in the industry, and we look forward to The award to Dolphin – which is achieving solid practical results entirely based on voting by the from this unique survey.” journal’s readers – recognized our sponsorship of the World Dolphin’s sponsorship of the Wide Fund for Nature’s (WWF) project totals $500,000. The study initiative to research and protect will run from 2005 through 2007, coral reef habitats in the UAE and to establish a complete picture of Qatar. the status and threats to coral Ibrahim Al Ansari received the Pipeline award from Khamis Bu Amim, and hosted a table for reefs in the Arabian Gulf – and to Dolphin colleagues Executive Vice President prepare a conservation plan for Operations Ibrahim Al Ansari potential protected areas and represented the company during restoration. last month’s glittering awards ceremony at Dubai’s Nad Al Sheba The Awards event took place Club, in order to receive the under the patronage of H H award. It was presented to him by Sheikh Ahmed Bin Saeed Al Khamis Bu Amim, Chairman of the Maktoum, President, Department newly-formed Regional Clean Seas of Civil Aviation, Government of Organization (RECSO). Dubai and the Chairman of the Ibrahim said afterwards: “This Emirates Group. It honors high award to Dolphin relates to the achievers throughout the three year research and study region’s oil and gas industry on project that we launched last an annual basis: further year in association with WWF, information can be found on with ERWDA (the Abu Dhabi Pipeline’s website, Environmental Research and www.pipelinedubai.com.