Dolphin Energy Signs Gas Sales Agreement to Supply Natural Gas to Oman

Dolphin Energy Limited has signed a Gas Sales agreement with Oman Oil Company (OOC) to deliver an average 200 million standard cubic feet of gas per day (mmscf/day) to OOC from early 2008.

The agreement was signed in Abu Dhabi this morning by His Highness Sheikh Hamdan Bin Zayed Al Nahayan, Deputy Prime Minister and Minister of State for Foreign Affairs of the UAE and Chairman of Dolphin Energy Limited and by His Excellency Maqbool Ali Sultan, Minister of Commerce and Industry of the Sultanate of Oman and Chairman of Oman Oil Company.

It is based on detailed discussions between Dolphin Energy and OOC, subsequent to the signing of a Memorandum of Understanding (MOU) for future gas supply on April 20, 2004. A Joint Steering Committee was established under the MOU to determine commencement dates for gas supply, as well as quantities and price.

On this occasion HH Sheikh Hamdan said: "With the signing of this agreement, we can all celebrate the creation of a true GCC gas grid -- linking Qatar, the UAE and Oman. Dolphin Energy takes pride in its role in this substantial and important endeavor, and we look forward to supplying the Sultanate with natural gas for a 25 year period."

For OOC, HE Mr Sultan commented: "We are extremely proud to have signed this agreement with Dolphin which we strongly believe further strengthens the existing brotherly ties and enhances economic cooperation between the Governments of Oman and the UAE."