Enron Middle East Vision Use regional relationships partnerships

Enron Middle East Vision - Use regional relationships, partnerships, contracts and selective asset development to gain immediate access to gas and electric power customers and market share, promote regional gas/power networks, support our global LNG businesses and other Enron/EGM business lines. - Generate net income of at least $5 million in 2001 (3 year income forecast to be developed after re-evaluation described below). Strategy - Select and focus on a balanced program consistent with our vision that includes several large long gestation “home runs” (eg. Dolphin, Saudi) combined with several shorter gestation “singles” that can generate near term income (eg. Oman). Current Focus - Sell out of Gaza by year end in a manner that does not damage Middle East reputation/relationships. - Re-evaluate all other existing projects to ensure consistency with Enron Corp. /EGM vision and objectives. - Resolve upstream impasse on Project Atlantis and close before year end 2000 (UAE production financing with exclusive gas marketing/kick-start for Dolphin). - Get 2 BCFD of Dolphin supply and marketing contracts in place asap; financial close/ NTP before year end 2001. - Finalise initial Oman gas supply and distribution contracts and commence gas deliveries by mid 2001; sell down Enron interest to generate immediate cash flow in early 2001. - Win Saudi SADAF bid/negotiate contracts (power/steam plant with EES opportunities) - Continue to manage existing $1. 5 million per year Dugas MTBE and feedstock contracts. - Continue to develop other early leads if justified after further screening (TABREED/EES venture, Saudi gas/power development, Syria/Turkey power marketing, Egypt LNG, Egypt/Jordan gas marketing, Jebel Ali Power plant/Energy Management contract, Oman Fibre Optic link).