UAE- Qatar $ 4 billion oil project investment
United Arab Emirates-Qatar, Economics, 2/20/2001

The United Arab Emirates (UAE) minister of state for foreign affairs Sheikh Hamdan Bin zayed al-Nahyan has announced that signing the " Dolphin" project for investment in the field of gas and oil between the UAE and Qatar will be made before the end of March.

In a statement he made in Abu Dhabi on Monday Sheikh Hamdan added that the total investment of the project which is considered the largest at the world level is estimated in its first phase at $ 4 billion during 6- 7 years and it is expected to be signed at Doha's fourth International Conference for natural gas to be held on March 13 and 14.

Sheikh al-Nahyan continued: " we live in the age of greater economic blocs and strategic understanding among countries which are not linked together by ties of common origin, religion, language and common destiny as the situation is in the Gulf region and the Arab states where the atmosphere of co-operation is suitable, noting that it is ripe time to build co-operation on the ground of economic and trade dealing.

However, negotiations between the two sides started in February 2000 and the main conditions were agreed provide for the rights of exploration drilling, production and gas transport from al-Shamal ( north- gas field in Qatar to the markets in the UAE and Oman. SANA.

Previous Stories:
  Qatari gas to the Emirates   (2/16/2001)
  A project to pomp Qatari gas to UAE, Oman   (12/18/2000)
  UAE - Qatar banking   (5/17/1999)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search