By OGJ editors
HOUSTON, July 27 -- Dolphin Energy Ltd. has secured a 5 year, $1.36 billion loan from a consortium of 16 local, regional, and international banks to fund a portion of the construction and operating costs for its $3.5 billion Dolphin project, reported OPEC News Agency.
Dolphin would supply the UAE with as much as 3.2 bcfd of natural gas from North field off Qatar (OGJ Online, Feb. 6, 2006). The project involves development of natural gas reserves, processing facilities at Ras Laffan Industrial City onshore, and export pipelines to transport as much as 3.2 bcfd of refined natural gas to the UAE (OGJ Online, Sept. 15, 2003). The project is scheduled to come on stream in 2006.
Dolphin awarded major engineering, procurement, and construction contracts earlier this year (OGJ Online Jan. 12, 2004) and is now entering a phase of heavy expenditures.
Dolphin appointed the Abu Dhabi Commercial Bank to serve as documentation bank, Barclays Capital to serve as codocumentation Bank, the National Bank of Abu Dhabi to serve as facility agent, and First Gulf Bank and HSBC to serve as security trustees.
