Oman Oil signs gas MoU with Dolphin Energy
The Oman Oil Company has signed a memorandum of understanding (MoU) with Abu Dhabi’s Dolphin Energy (DEL) to supply natural gas to a series of new power and water plants in the Emirate of Fujairah, reported WAM. Deliveries of gas will average 120 million cubic feet per day.
The MoU outlines the general conditions of a Gas Sales and Purchases Agreement (GSA) for the supply of gas starting in second half of 2003, for a period of between three and half and five years. The gas will be delivered via pipeline to the UEA-Omani border, where Dolphin Energy will collect the shipments and deliver it to the plants.
DEL is a joint venture energy company set up by the United Arab Emirates (UAE) Offsets Group (UOG), which holds the majority 51 percent stake in it. TotalFinaElf of France, and the US’ Occidental Petroleum Corporation own 24.5 percent each. The company is working on developing an integrated gas network in the UAE by sourcing gas, primarily from Qatar’s North Field, to meet the rising demand from power generation and water desalination plants. — (menareport.com)
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