Emeriti Dolphin Energy receives USD863m loan

02 Dec 2015

(MENAFN) Dolphin Energy, the Abu Dhabi state-operated venture that produces and transports natural gas to the UAE and Oman, has successfully got a USD863 million loan from local financial institutes.

Accordingly, Mandala, the local public Joint Stock Company owns 51 percent of Dolphin, while Occidental Petroleum Corporation, the US- based oil and gas production firm holds roughly 24.5 percent.

However, the top Emeriti gas company originally raised USD3 billion through a combination of loans and a bond in 2009; some of this was refinanced over a further bond issue in 2011 worth USD1.3 billion.

Moreover, the major project of Dolphin Energy is the Dolphin Gas Project, which produces natural gas from Qatar’s North Field, then transport it by offshore pipeline to the United Arab Emirates and Oman.

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