Offshore staff

Dolphin Energy received no objection or protest from any state regarding construction of the pipeline that passes exclusively within the maritime zones of the UAE and Qatar.

Dolphin received the necessary approval of the UAE and Qatar Authorities in 2004 to construct the pipeline which will be completed within the next few weeks. This pipeline will facilitate transportation of gas from Ras Laffan in Qatar to Taweelah in UAE.

Dolphin Energy's major initiative, the Dolphin Project, involves the production and processing of natural gas from Qatar's North Field, and transportation of the dry gas by subsea pipeline across joint UAE-Qatari waters to the UAE, beginning in 2006.

Dolphin Energy is owned 51 % by Mubadala Development Co. on behalf of the Government of Abu Dhabi, and 24.5 % each by Total of France and Occidental Petroleum of the USA.

7/12/06