Contents · QATAR UAE Al Ain Ras Laffan Taweelah Fujairah Abu Dhabi Maqta Jebel Ali Dubai Sharjah Doha Taweelah Dolphin Energy gas produced …

Contents

www.dolphinenergy.com

WHAt Is DoLPHIn eneRGY: An IntRoDUCtIon 02

MessAGe fRoM tHe CHAIRMAn 06

MeetInG tHe neeDs of CUstoMeRs 08

ConstRUCtIon: CHALLenGe AnD ACHIeveMent 12

sUPPLYInG tHe ReGIon’s GAs 16

DoLPHIn eneRGY’s PeoPLe ARe Its fUtURe 20

DoLPHIn eneRGY sHAReHoLDeRs AnD InCoRPoRAtIon 22

WHAt Is DoLPHIn eneRGY: An IntRoDUCtIon

Dolphin Energy’s ‘Dolphin Gas Project’ was greeted with astonishment when it was first announced by the Abu Dhabi Government in 1999. Why did the Emirate want, or need, to pay to import gas from another country?

It was widely known that Abu Dhabi was rated fourth in world gas reserves at the time.

Everyone in the energy industry also knew that Abu Dhabi was selling substantial quantities of gas to world markets, with tankers arriving weekly to deliver its liquefied natural gas (LNG) bound for Southeast Asia and beyond.

When the full details of the project were duly unveiled, the flow of comment grew. Some 2 billion standard cubic feet of gas daily (scf/day) was to be imported from Qatar in eight years time. The main question in the market was: “Who will be the customers for all this gas”?

That 2 billion scf/day of gas from Qatar is now being delivered to customers – and all available supplies have long since been allocated.

this page Early days – laying the pipeline for Dolphin Energy’s gas supply to Fujairah in 2003: dusk falling as new lengths of pipe are stacked for the next day’s work.

opposite pageAssembling hundreds of lengths of 48 inch pipe in Qatar, prior to the coating and installation processes for the export pipeline.

The vision behind Dolphin Energy – a vision jointly shared between the governments of Abu Dhabi and Qatar – has been unique in its scope, its farsightedness and ultimately in its impact on the people and industries in both countries.

By the end of the last century, the leadership in Abu Dhabi had realized that the emirate’s gas reserves would be more expensive to develop, and would require a longer timeline to meet the needs of the United Arab Emirates, 20 and more years into the future.

Much of Abu Dhabi’s natural gas was indeed being exported – but those exports could not be trimmed back, when long-term 25 year supply contracts were in place. Growing quantities of available gas were also needed for injection into older crude and condensate reservoirs to maintain reservoir pressure in order to sustain crude and condensate production. It was also known that several gas fields were sour: these contain a high percentage of hydrogen sulfide, which is highly toxic, dangerous to humans and pipelines alike, and thus technically challenging.

The first approaches were duly made to Qatar, with the aim of securing a deal for gas export/import that would make economic and commercial sense to both parties.

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QATAR UAE

Al Ain

Ras Laffan

Taweelah

Fujairah

Abu Dhabi

Maqta

Jebel Ali

DubaiSharjah

Doha

Taweelah

Dolphin Energy gas produced in Qatar arrivesat the company’s Taweelah Receiving Facilities in Abu Dhabi, UAE

Taweelah-Fujairah Pipeline (TFP)

The TFP is a 48 inch, 244 km gas pipeline that takes natural gas from Taweelah across the country to power and desalination plants in Fujairah

Ras Laffan

The Gas Processing & Compression Plant at Qatar’s Ras Laffan Industrial City, the largest single build plant in the world, is central to Dolphin Energy’s activities

DOLPHIN GAS PROJECT

OMAN

Eastern Gas Distribution System

Designed and built by ADNOC, the system was refurbished, upgraded and is now managed by Dolphin Energy

Al Ain-Fujairah Pipeline (AFP)

Dolphin Energy entered the business of gas supply in January 2004, when the company commissioned the natural gas pipeline that connects Al Ain with the Emirate of Fujairah

Dolphin Constructed Pipelines

Existing Pipelines

Dolphin Energy’s Project Map.

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tHe vIsIon BeHInD DoLPHIn eneRGY

A Development and Production Sharing Agreement (DPSA) was reached whereby the Abu Dhabi Government and its partners in Dolphin Energy would invest in the appraisal, drilling and construction of the upstream facilities in the dedicated concession area in the North Field. In return, Dolphin Energy would share with Qatar the income from the valuable by-products extracted at its Ras Laffan Gas Processing Plant, while buying all the natural gas for export to the UAE and Oman.

The result? Here is a unique energy initiative that ensures regular supplies are being delivered from Qatar to customers throughout the UAE and Oman. It is a long term strategic energy initiative connecting three countries in the only international gas network in the region, and has become one of the largest energy-related projects ever undertaken in the Middle East.

Dolphin Energy is producing and transporting the world’s cleanest fossil fuel – a sweet high grade 97% methane gas from the 24 deep wells drilled in Qatar’s offshore North Field. This gas is then processed onshore at Dolphin Energy’s Gas Processing Plant in Qatar’s Ras Laffan Industrial City, where valuable by-products such as LPGs, condensate, ethane and sulfur are extracted for sale. All by-products are sold in world markets, with the exception of ethane which is sold in Qatar.

Finally, the processed methane gas that remains is transported through the 364 kilometer, 48 inch subsea export pipeline – the longest and largest high pressure subsea pipeline in the region – all the way to Dolphin Energy’s Taweelah Receiving Facility in Abu Dhabi.

Two billion standard cubic feet of gas per day (bscf/day) is delivered through the export pipeline to our customers throughout the UAE and Oman and some additional volumes are made available through 3rd party interruptible supply. Meanwhile, provision has been made to expand throughput to 3.2 bscf/day, subject to a future agreement between the Qatari and Abu Dhabi governments.

Today, Dolphin Energy is best described as a vertically integrated energy company – from the production and processing of natural gas from Qatar’s North Field, via transportation through the largest subsea pipeline in the region, to distribution and supply across the UAE and Oman.

The company creates value for its partners and stakeholders by transporting gas in a safe and environmentally responsible manner. The company is unstinting in its commitment to ethical conduct, social responsibility and growth.

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364 KM 48 InCH sUBseA exPoRt PIPeLIne. tHe LonGest AnD LARGest In tHe MIDDLe eAst.

MessAGe fRoM tHe CHAIRMAn

Abu Dhabi’s Taweelah is where Dolphin Energy receives and monitors gas from Qatar, before distribution throughout the UAE and to Oman.

Dolphin Energy Limited’s Dolphin Gas Project was completed in February 2008, when the company achieved its full production and supply rate of 2 billion standard cubic feet of gas per day for the very first time.

After years of visionary planning, drilling, construction and engineering, this unique venture had finally come to fruition.

Its completion, and subsequent success, amply fulfills the vision of our late President, Sheikh Zayed Bin Sultan Al Nahayan.

Dolphin Energy’s gas production in Qatar and subsequent transmission to the UAE and Oman demonstrate the continuing commitment of His Highness Sheikh Khalifa Bin Zayed Al Nahayan, the President of the UAE and Ruler of Abu Dhabi and of His Highness Sheikh Mohamed Bin Zayed Al Nahayan, the Crown Prince of Abu Dhabi.

The enduring support of the Governments of the UAE, Qatar and Oman has been the essential factor in enabling the national and international stakeholders in Dolphin Energy to assemble the skills, technologies and multidisciplinary implementation teams essential to the success of this great and unique project.

Dolphin Energy, which brought together these three GCC nations in an international gas network for the very first time, is now a functioning source of clean, new energy for the Southern Gulf.

Above all, Dolphin Energy’s gas from Qatar will continue to support development, utilities and industries throughout our region over the long term – creating wealth, growth and employment for GCC citizens for decades to come.

BRInGInG tHRee GCC nAtIons toGetHeR foR tHe veRY fIRst tIMe AnD CReAtInG WeALtH, GRoWtH AnD eMPLoYMent foR GCC CItIZens.

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Hamdan Bin Zayed Al Nahayan Chairman, Dolphin Energy Limited

MeetInG tHe neeDs of CUstoMeRs

The marketing activities of Dolphin Energy fall into two distinct categories. These are the sale of Dolphin Energy’s natural gas, mostly under long-term agreements to customers in the UAE and Oman, with the remaining quantities under interruptible gas sales agreements – and term or spot sales of condensate, LPGs and sulfur, which are the valuable by-products of the company’s Gas Processing Plant in Qatar.

In October 2003, Dolphin Energy signed two significant long-term Heads of Agreements with its initial customer, the Abu Dhabi Water and Electricity Company (ADWEC). In May 2005, a similar long-term gas sales agreement was signed with the Dubai Supply Authority (DUSUP).

In September 2005, Dolphin Energy signed a further long term gas sales agreement with Oman Oil Company, with deliveries of gas to Oman at the Al Ain pipeline intersection commencing at the end of October 2008. The signature of the Gas Sales Agreement with Oman completed Dolphin Energy’s line up of long-term gas sales agreements with UAE and Oman supply companies.

Short-term, interruptible, gas sales agreements are also currently in place with the Federal Electricity & Water Authority, Ras Al Khaimah Natural Gas Commission, Dubai Supply Authority and Sharjah Electricity & Water Authority.

Under the long-term agreements that have been executed, average daily contracted gas volumes are given below:

CUstoMeRs AveRAGe voLUMe

ADWeC 994 MILLIon sCf/DAY(ABU DHABI WAteR & eLeCtRICItY CoMPAnY)

DUsUP 730 MILLIon sCf/DAY(DUBAI sUPPLY AUtHoRItY)

ooC 200 MILLIon sCf/DAY(oMAn oIL CoMPAnY)

totAL: 1.859 BILLIon sCf/DAY

The difference between this average total and the maximum throughput of 2 billion scf/day, allows Dolphin Energy to offer flexibility for peak requirements of customers.

LonG teRM AGReeMents

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opposite page The Taweelah - Fujairah pipeline under construction.

BelowHH Sheikh Hamdan Bin Zayed Al Nahayan, Chairman of Dolphin Energy (right) and HH Sheikh Diab Bin Zayed Al Nahayan, Chairman of ADWEA (left) signed the Heads of Agreements for Gas Sales and Purchase Agreement for supply to ADWEC in October 2003. Standing behind are (left) Christophe de Margerie, CEO of TOTAL and (right) Ray Irani, Chairman and CEO of Occidental Petroleum – both of whose companies are shareholders in Dolphin Energy – with Dolphin Energy’s CEO Ahmed Ali Al Sayegh (center).

Valuable by-products such as ethane, condensate, LPG and sulfur are important benefits from the Dolphin Energy Gas Processing Plant. The extraction of the by-products from the raw gas received from the offshore wells in Qatar’s North Field provides significant quantities of ethane, condensate, propane, butane and sulfur for immediate sale, while the remaining processed methane gas is transported through Dolphin Energy’s export pipeline to customers in the UAE and to Oman. Export by-products cargoes are shipped from Ras Laffan Port in northern Qatar.

Low sulfur Condensate is an ultra-light form of oil. The condensate is sold on international term or spot markets, largely to be used as feedstock in splitters and petrochemical industries or for blending with Crude Oil. First cargoes were sold during July 2007 for shipment in August 2007.

ethane is extracted at an early stage in gas processing. Dolphin Energy’s production of ethane is being utilized as feedstock for the ethane cracker within Qatar.

Propane and Butane are important liquefied petroleum gases (LPGs) that are also by-products of the company’s gas processing. They are used as fuels for industrial, domestic, automotive as well as in petrochemicals production worldwide. Butane also has specialized uses in gasoline blending. Export of LPG began in November 2007.

sulfur is removed from natural gas at an early stage in processing, to comply with international health, safety and environmental standards. Dolphin Energy’s sulfur production is sold worldwide, largely for fertilizer production. Export of sulfur commenced in January 2008 and all supplies are sent to Ras Laffan’s common sulfur storage facility.

BY-PRoDUCts

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The complex $1.6 billion Gas Processing Plant at Ras Laffan.

ConstRUCtIon: CHALLenGe AnD ACHIeveMent

One superstructure has been installed, the other hangs from the giant offshore loading crane prior to installation.

The initial engineering mandate given to Dolphin Energy was to construct a 48 inch, 370 km plus gas pipeline between Qatar and the UAE – and then to produce, process and transport through this pipeline up to 2 billion standard cubic feet of natural gas (approximately equivalent to 333,000 barrels of oil) every day.

The subsequent task was to establish a gas receiving and distribution system that would deliver the necessary quantities of gas, at the right pressure, to all UAE customers and to Oman.

The task undertaken to bring the Dolphin Gas Project to completion has therefore been considerable. Three distinct elements were involved. These can be best summed up in the industry terms ‘Upstream’ (drilling, extracting and processing), ‘Midstream’ (transport and supply) and ‘Downstream’ (distribution to customers).

Dolphin Energy’s first task was to drill and extract sufficient quantities of ‘wet gas’ from the natural gas-bearing Khuff Zone in Qatar’s North Field – gas which lies between 10,000 and 12,000 feet (3,000 – 3,600 meters) underground. During 2006, two purpose-built production platforms were constructed accordingly.

The ‘wet gas’ produced is piped more than 80 kilometers to shore at Qatar’s Ras Laffan, where the Dolphin Energy Gas Processing Plant was built between 2004 and 2007. This is the largest single-build gas plant in the world and makes up the core element in the company’s operations.

UPstReAM

Here Dolphin Energy strips out valuable commercial products (particularly condensate, LPGs, ethane and sulfur), with the result that ‘lean and sweet’ processed natural gas is then ready for transport by pipeline to the UAE. Meanwhile, the gas liquids and sulfur by-products are delivered from the Gas Processing Plant to various storage facilities, prior to export on a regular basis from exclusive loading berths.

In January 2004, three substantial Engineering, Procurement and Construction (EPC) contracts were awarded by Dolphin Energy to carry out the complex construction work in Qatar.

In November 2012, Dolphin Energy awarded a new EPC contract for the installation of three new export gas compressors at the plant, designed to enhance overall reliability and availability of gas supply.

tHe eQUIvALent of

333,000 BARReLs of oIL DAILY.

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The giant Castoro Sei of Saipem (right) was used to join together the lengths of coated pipe which were then lowered into the sea between Qatar and Abu Dhabi. Here, a barge (right) brings across additional pipe lengths (summer 2006).

MIDstReAM

The key Midstream element was the installation of the 48 inch subsea export pipeline from Qatar to Abu Dhabi, designed to transport up to 3.2 billion standard cubic feet per day, which was completed in August 2006.

DoWnstReAM

The main Downstream tasks were the construction of onshore receiving facilities at Taweelah in Abu Dhabi and the upgrade of existing distribution lines in the UAE, in order to handle natural gas coming from Qatar and supplying it in a very efficient and safe manner to customers in the UAE and Oman.

New receiving and monitoring facilities were built accordingly at Taweelah in Abu Dhabi. An agreement was also reached with ADNOC for access to its gas distribution network. Joint Dolphin Energy and ADNOC teams cooperated to ensure smooth coordination of gas distribution. Subsequently, Dolphin Energy took over management of this Eastern Gas Distribution System (EGDS) in 2008.

A separate and important downstream activity was the construction of Dolphin Energy’s 24 inch gas pipeline from Al Ain to Fujairah, which was completed during the fourth quarter, 2003. This pipeline was the first project of Dolphin Energy to come on stream.

Between 2008 -10, Dolphin Energy constructed a major new 244 kilometer, 48 inch gas pipeline from Taweelah across the country to Fujairah, supporting the expansion of power facilities and meeting the growing needs of its customer ADWEC.

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sUPPLYInG tHe ReGIon’s GAs

In April 2006, the installations for Dolphin Energy’s two well platforms were completed.

Qatar’s role is central to the success of the Dolphin Gas Project. The Government of Qatar is the owner of the natural resource which enables Dolphin Energy to supply 2 billion standard cubic feet of natural gas per day, every day, to the UAE and Oman for a period of 25 years.

Approximately 3,000 - 3,600 meters underground, beneath an extensive zone offshore Qatar’s north-east coast, lies the world’s largest single gas field – the North Field. It is gas from the North Field which is not only powering Qatar’s own LNG and petrochemical plants, but which provides the feedstock for Dolphin Energy and ultimately its customers.

The support and encouragement of His Highness the Emir of Qatar, Sheikh Hamad Bin Khalifa Al Thani, and of the Qatar Government, have therefore been instrumental in making the Dolphin Gas Project a continued success.

From the early stages of the project, close cooperation between Dolphin Energy and Qatar Petroleum (QP) led to joint research and planning, and thereafter to the signing of the Field Development Plan in December 2003 – the final investment decision for the Dolphin Gas Project that confirmed all its investment parameters.

Between 2004 and mid 2007, Dolphin Energy’s construction program in Qatar, both on and offshore, was contracted, designed, installed and commissioned. The 24 offshore gas wells required were drilled and completed and two sophisticated production platforms installed in the North Field to service them. The twin sealines linking the platforms to Ras Laffan Industrial City, and the subsea export pipeline between Qatar and the UAE, were also completed.

The heart of Dolphin Energy’s engineering vision, the complex Gas Processing Plant at Ras Laffan, teemed with construction activity throughout the period, with up to 12,000 workers on site every day during 2006 and 2007.

Its completion is a testament to the spirit of cooperation and goodwill extended by the Governments of both Qatar and Abu Dhabi - two countries, acting as one.

tHe essentIAL RoLe of QAtAR

3,000 – 3,600 MeteRs UnDeRGRoUnD, LIes tHe LARGest sInGLe GAs fIeLD In tHe WoRLD – tHe noRtH fIeLD.

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The Taweelah-Fujairah pipeline has been constructed across some of the most challenging terrain in the UAE.

Dolphin Energy entered the business of gas supply in January 2004, when its natural gas pipeline that connects Al Ain with the UAE’s east coast emirate of Fujairah was commissioned.

This 24 inch, 182 km pipeline would eventually supply fuel for ADWEC’s 656 MW power plant and its 100 million gallons-per-day desalination plant in Fujairah – benefiting thousands of residents, hundreds of farmers and scores of inland rural communities.

From January 2004 to July 2007, up to 135 million standard cubic feet of natural gas per day was being supplied by Oman Gas Company to Dolphin Energy for both plants in Fujairah. This meant that for the very first time, natural gas began to flow from one GCC nation to another.

Once the company began receiving gas from Qatar in July 2007, Dolphin Energy started to supply Fujairah with gas directly, through the new and refurbished pipelines connecting Taweelah with Al Ain.

Dolphin Energy started construction of the Taweelah-Fujairah Pipeline (TFP) in 2008.

In all, 244 kilometers of 48 inch gas pipeline has been laid over an environmentally approved, cross country route of desert and mountain from Taweelah to Fujairah to supply gas capacity up to 1.6 billion standard cubic feet of natural gas per day to ADWEC’s F1 and F2 power plants. TFP is one of the longest and largest gas pipelines in the UAE and construction was completed at the end of 2010.

The project teams faced many challenges associated with laying a pipeline across harsh desert, wadis and mountainous terrain. This included passing through the highest point of the completed Right Of Way to an elevation of 680 meters above sea level with a slope angle up to 33 degrees in some places. With major construction milestones put in place and the unerring will to succeed, all milestones were met and the pipeline was completed on time.

Today, TFP delivers a substantial volume of natural gas to the east coast of the Emirates as fuel for ADWEC’s power stations.

Ever since its establishment, Dolphin Energy and Oman Oil Company (OOC) have worked closely to create the foundation for a regional gas grid between the two countries.

In January 2003, Dolphin Energy signed a contract with OOC to receive up to 135 million cubic feet of Omani natural gas per day for between 3½ and 5 years – all supplied by Dolphin Energy to support the power and desalination plants in Fujairah.

Provision was later negotiated for a reversal of roles. In September 2005, Dolphin Energy and OOC announced an agreement on the future supply of some 200 million scf/day of gas to Oman from 2008 – to assist the Sultanate’s own industrialization plans in the country’s North West.

Dolphin Energy’s cooperation with OOC was subsequently endorsed through an International Pipeline Agreement (IPA) signed by the UAE and Oman Governments in March 2004, which regulates gas transmission between the UAE and the Sultanate. It confirms Dolphin Energy Limited as owner and operator of the pipeline to Fujairah.

CooPeRAtIon AnD GAs sUPPLY to oMAn

GAs foR fUjAIRAH tAWeeLAH-fUjAIRAH PIPeLIne

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Laying pipe in 2003: Dolphin Energy’s 182 km Al Ain-Fujairah Pipeline (AFP) supplies Dolphin Energy’s gas to ADWEA in Fujairah, on the UAE east coast.

Dolphin Energy is committed to hiring and investing in the best people available – and to offering them the necessary training and support they require for long term career development. The company has fast become an employer of choice, as a result of successful programs focusing on nationalization and offering equal opportunities.

As a result, Dolphin Energy enjoys high – and continually improving – employee satisfaction, achieved through human resource policies that combine the best practices from Qatar and the UAE.

DoLPHIn eneRGY’s PeoPLe ARe Its fUtURe

Dolphin Energy’s commitment extends from the highest quality of development for its people to providing clean energy that benefits communities and the environment.

The company is in business to create value for its joint venture partners and stakeholders through the appraisal, development, production, transportation and marketing of hydrocarbon resources in a safe, efficient and environmentally responsible manner.

Dolphin Energy is committed to excellence and strives for business processes that focus on efficiency, value for its customers, innovation, investment in people, ethical conduct, social responsibility, profit and growth. A key element in the area of social responsibility is the company’s commitment to conduct business in a safe and socially responsible manner that protects people, the community and the natural environment.

Dolphin Energy’s commitment to quality and the protection of health, safety and the environment is integral to the company’s business objectives. Dolphin Energy strives for excellence through continuous improvement in performance in each of these areas. Attaining QHSE excellence is a primary management objective and the responsibility of every employee.

The company aims to achieve balanced results; add value for its customers, lead with vision, inspiration and integrity; manage by process; succeed through people; nurture creativity and innovation; build partnerships and take responsibility for a sustainable future

Our goals are simply stated – Excellence and Sustainability, no accidents, no harm to people, and no damage to the natural and social environment.

Dolphin Energy endeavors to embody all of these concepts in everything it does and measures performance and results to constantly improve the business in-line with the best in the world.

QUALItY, HeALtH, sAfetY AnD envIRonMent

oppositeDolphin Energy’s employees constantly monitor the gas flow from Qatar in the Taweelah control room.

Above RightSoft and hard corals live together in this underwater world of exceptional fascination.

Below The main control room of the Dolphin Energy Gas Processing Plant at Ras Laffan, where employees monitor and control the flow of gas.

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sUstAInABILItY

As part of its ongoing commitment to formalizing its Corporate Social Responsibility programs, Dolphin Energy produces an annual sustainability report, the first of which was published in 2010.

These reports illustrate the company’s commitment to drive positive economic, social and environmental impacts and measure annual company performance against a set of Key Performance Indicators. This is helping Dolphin Energy to embed the principles of sustainability into the operation and maintain an ethical approach to conducting its business.

This can be witnessed in our support for national bodies such as the Emirates Foundation and Qatar Foundation, other local and non-profit organizations and a stakeholder program encompassing culture and the arts, education, sport, dialog and charitable initiatives.

As an active corporate citizen, Dolphin Energy is also a founding member of the Abu Dhabi Sustainability Group and Ras Laffan Community Outreach program. It has also played an important role in the development of Qatar’s first Sustainability Development Index Report which was launched in 2012.

Dolphin Energy Limited was established in March 1999 as an initiative of the government of Abu Dhabi. From the beginning, its founders conceived Dolphin Energy as a force for international energy cooperation that would unite the vision and resources of the region with multinational capital and expertise.

During 2000, Total of France was invited to become a founding shareholder and Occidental Petroleum of the USA became the company’s second international partner in 2002. Dolphin’s shareholder structure consists of Mubadala Development Company with 51 percent, and Total and Occidental Petroleum with 24.5 percent each. Mubadala Development Company is wholly owned by the Government of the Emirate of Abu Dhabi.

Dolphin Energy Limited was officially incorporated through Abu Dhabi Emiri Decree No 8, issued on May 26, 2002. Its role and responsibilities are detailed in Decision No 1 of the Abu Dhabi Supreme Petroleum Council (SPC), which was published two days later.

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DoLPHIn eneRGY sHAReHoLDeRs AnD InCoRPoRAtIon

Dolphin’s new Gas Processing Plant at Ras Laffan.

Today, Dolphin Energy is consistently profitable, with delivery of financial results, ahead of target. It reached profitability within nine years of completion of the overall investment in one of the largest energy projects in the Middle East, covering platforms, sealines, processing plant, export pipeline, receiving facilities, distribution and supply network.

PosItIve eneRGY