Sharjah gas discovery will fuel more prosperity

Sharjah is known the world over as one of the safest global destinations, economically vibrant, culturally strong and socially offering a flawless model for unity in diversity.

The emirate vociferously supports a culture of entrepreneurship and innovation, housing thousands of big, small and medium-sized enterprises focusing on manufacturing, real estate, gas, tourism, education, healthcare, logistics and business services.

The successful new discovery of natural gas and condensate onshore at the Mahani field in Sharjah by the Sharjah National Oil Corporation and its Italian partner ENI comes as tremendously exciting development as it will undoubtedly help boost the Emirate’s economic development.

The fact that the discovery at Mahani-1 exploration well, with flow rates of up to 50 million standard cubic feet per day, comes within the first year of the partnership and represents the first onshore discovery of gas in the Emirate since the early 1980’s adds to the excitement.

Mahani-1 well was drilled at a total depth of 14,597 feet, which resulted in the discovery of gas with the associated capacitors in the formation of the Thumama. The size of the discovery will be estimated in time in light of expectations for further evaluation and development.

As Sheikh Ahmed Bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Chairman of Sharjah Oil Council, rightly stated, the historic discovery is set to bolster the Emirate’s resources and contribute to its energy reserves, creating sustainable development and positive economic environment in the country.

The Mahani discovery fulfills the Emirate’s commitment to make reliable and sustained gas supplies available throughout the United Arab Emirates.

Sharjah provides strategic energy infrastructure to help the nation meet the growing demand for energy by residential, industrial and public utility consumers. This will also help attract more investments into Sharjah’s industrial sector.

As Sheikh Ahmed Al Qasimi points out, the discovery supports Sharjah’s development process and will work to bring about major transformation in the industrial and commercial fields in the Emirate, by providing it with energy resources and attracting top global companies and institutions to invest in various sectors of Sharjah.

The Mahani-1 exploration well, located in the Area B Concession, is the first exploration well drilled by SNOC following the acquisition of a new 3D seismic survey covering the territory.

SNOC, which is the operator of Area B, and ENI both hold a 50% stake in the discovery as part of a Concession Agreement that was signed in early 2019. The two companies are also partners in the Concession Areas A and C, also located onshore Sharjah.

By 2040, natural gas demand in the Middle East and North Africa region is expected to grow 40 per cent and oil demand will increase by ten million barrels a day, according to industry estimates.

Sharjah has been moving ahead towards greater economic prosperity thanks to the wise vision of His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah.

The emirate has already tasted success in positioning itself in terms of tourism and trade.

There can be no doubt that the Mahani discovery will extensively boost the economic capabilities and industrial productivity of the Emirate and help in achieving much more in terms of prosperity.

The discovery will bolster the Emirate’s strategic position as a reliable supplier of gas and key industrial and investment hub in the Arabian Gulf region, unfolding a world of exhilarating opportunities.