UPDATE: Mubadala Oil's CEO: Not Involved In Any Sudan Projects

Mubadala Oil and Gas isn't involved in any oil projects in the Sudan, its chief executive said at a conference Monday.

Sudan Oil Minister Zubair Ahmed al-Hassan had said in April 2008 that the Abu Dhabi-owned Mubadala is "the strongest" candidate to enter Total SA's (TOT) South Sudan Block.

The deal would have involved the development of a site the size of Greece, known as Block B, which is thought to contain large oil reserves.

Meanwhile, Mubadala's Dolphin Energy project, which imports natural gas to the Unite Arab Emirates via a pipeline from Qatar, is fully on stream and delivering 2 billion cubic feet of gas, said Maurizio La Noce, CEO of Mubadala Oil & Gas.

Mubadala raised $4.1 billion in total to fund the construction of the pipeline project, a spokeswoman for the company said. From the amount raised, $1.25 billion was sourced through a debut project bond issue, with each bond holding an average life of 6.1 years, while the rest of the money was raised through Export Credit Agency and Bank debts, the spokeswoman added.

Dolphin's majority shareholder is Abu Dhabi government investment firm Mubadala Development Co., while Total SA and Occidental Petroleum Corp. (OXY) each own a 24.5% stake.

-By Reza Amanat, Dow Jones Newswires; 4420-7842-9487; [e-mail]