Mubadala announces financial results for 2011(final add)Apr 12, 2012 - 08:26 -
WAM Abu Dhabi, Apr 12th, 2012 (WAM)--xxxx. Al Mubarak. Oil '&' Gas: Dolphin Energy sold its full capacity and reached a significant milestone with the cumulative production of its three trillionth cubic foot of gas in December. In South East Asia, the Jasmine field once again exceeded annual production targets, producing its 40 millionth barrel of cumulative crude oil production.
Projects under development in Indonesia, the Gulf of Thailand, Kazakhstan and Oman performed according to plan, and the business acquired new interests in Malaysia, Tanzania and Vietnam.
Emirates Aluminium (EMAL) produced its millionth ton of aluminium in November 2011 following the full completion of Phase I in January 2010. Phase II, which will expand capacity by another 500,000 tons per annum, has been approved by EMAL's Board of Directors. This will create new jobs and opportunities for the private sector.
Yahsat successfully launched Abu Dhabi's first satellite, Y1A, providing commercial and military services and bandwidth. Yahsat will launch its second satellite in Q2 2012.
ATIC continued to invest to make GLOBALFOUNDRIES a world-leading semiconductor manufacturing company, resulting in GLOBALFOUNDRIES becoming the world's second-largest foundry by revenue in Q4 2011. Operational enhancements at GLOBALFOUNDRIES during 2011 saw significant increases in production velocity for customers such as IBM and new products such as AMD's 'Llano' processor enter the market.
Renewable Energy: Construction progressed on Shams I, the largest solar power facility in the region which in its first phase will have a capacity of 100 megawatts (MW). Masdar's Torresol Energy inaugurated the Gemasolar 19.9 megawatt concentrated solar power plant in Spain. The cutting edge plant provides 24 hours of uninterrupted power production by storing solar energy, providing renewable power production to a population of 25,000 households.
Strata, Mubadala 's advanced composite aero structures company, is a strategic Tier 1 supplier to both Boeing and EADS/Airbus of aircraft components. Strata saw its first aerospace components come off the Al Ain production line and delivered to customers in 2011.
The new Zayed University campus in Abu Dhabi was officially inaugurated in September 2011, forming part of the capital's world-class higher education infrastructure. Mubadala has now provided education facilities across the UAE for 20,000 students at Zayed University, the UAE University in Al Ain, the New York University temporary campus and Paris-Sorbonne University Abu Dhabi.
Building on the success of the original Imperial College London Diabetes Centre location in Abu Dhabi, a second facility in Al Ain was completed to accommodate demand. The Al Ain facility will support the Abu Dhabi Centre which is already running at full capacity.
In addition, the National Reference Laboratory opened to offer regional healthcare providers a one-stop solution for their lab diagnostic needs, while the Wooridul Spine Centre expanded its outpatient facility in Dubai.
The first tenants were announced for Sowwah Square, the heart of Abu Dhabi's new Central Business District in 2011, including Deloitte, Clifford Chance, Al Tamimi, Latham '&' Watkins, Mubadala GE Capital and the Regulation and Supervision Bureau, an Abu Dhabi Government entity. Construction continues on the Rosewood Abu Dhabi, which is expected to open this year. Mubadala remains a long-term, significant investor in Aldar, which recorded a profit in 2011.
Mubadala also continued its development and training of UAE nationals through its partnerships with world-class institutions like GE and its operating assets. Over 600 Emiratis have been trained in advanced technology, some at GLOBALFOUNDRIES' manufacturing facilities while others began studies in microelectronics as part of the Al Nokhba Scholarship for advanced technology.
Strata's workforce in Al Ain is growing to over one-third UAE nationals, trained in advanced aerospace composite manufacturing. The Masdar Institute of Technology continues its mission of educating Emiratis in the fields of renewable energy while also expanding its research in the areas of engineering, energy and microelectronics.