Oman Oil Company signs GSPA with Dolphin Energy
Oman Oil Company S.A.O.C. (OOC) announced Monday the signing of Gas Sales and Purchase Agreement (GSPA) with Dolphin Energy Limited (Dolphin Energy) of Abu Dhabi to deliver an average of 200 million standard cubic feet of gas per day (mmscf/day) to OOC from early 2008.
Maqbool bin Ali Sultan, Oman's Minister of Commerce and Industry and Chairman of Oman Oil Company signed the agreement on behalf of OOC. According to ONA, Sheikh Hamdan bin Zayed Al Nahyan, Deputy Prime Minister, Minister of State for Foreign Affairs and Chairman of Dolphin Energy Limited signed on behalf of Dolphin Energy Limited.
The agreement is based on detailed discussions subsequent to the signing of a Memorandum of Understanding (MoU) on April 20, 2004. A Joint Steering Committee was established under the MoU to determine the commencement dates for gas supply, as well as quantities and price.
Maqbool bin Ali Sultan said: “This agreement with Dolphin Energy will further strengthens the existing brotherly ties and enhance the cooperation between the Governments of Oman and the UAE.”
Sheikh Hamdan noted that the agreement allows a continuous supply of Dolphin gas to the Sultanate over a period of 25 years and that the agreement creates a GCC gas grid linking 3 Gulf states and thus presenting a true example of the GCC establish cooperation ties.
The Dolphin gas project is covering the extraction, processing and production of gas from the Qatari north field to be supplied to UAE with effect from the year 2006 through an underwater pipeline and then to the Sultanate.
OOC has been supplying natural gas to Dolphin Energy since early 2004 by means of a spur line specifically constructed to enable the export and import of natural gas between the two countries.