International Finance

SNOC, Eni discover first gas field in Sharjah in over three decades

Sharjah gas field
The discovery of Mahani is anticipated to drive the emirate’s economic development and attract global investors

A new natural gas field was discovered in Sharjah, marking its first in more than three decades. According to industry experts, the discovery of a new gas field in Sharjah will significantly contribute to its development of oil and gas resources in Sharjah and further drive economic development. 

The discovery is anticipated to uplift Sharjah’s industrial and commercial sectors. This in turn will attract global investors across sectors to the emirate. 

The gas field was discovered by state-owned and Sharjah National Oil Corporation (SNOC) and Italy’s oil fIrm Eni. The discovery was made during the first year of their partnership. The new gas field is called Mahani.  Under the terms of a concession agreement signed last year, SNOC and Eni will hold 50 percent stake in the discovery. 

The Mahani-1 exploration well was drilled to a measured depth of 14,597 feet, a local media report said. It is the first exploration well drilled by SNOC after a new 3D seismic survey acquisition in the emirate.

Sheikh Sultan bin Ahmed Al Qasimi, President of SNOC, told the media that, “The launch of the International Competitive Exploration Licensing Round by the Sharjah National Oil Corporation (SNOC) on behalf of the Sharjah Petroleum Council in 2018 has enabled new and valuable strategic partnerships. This discovery is a promising development for SNOC and meets our commitment to make reliable gas supplies available throughout the United Arab Emirates.

According to Sheikh Sultan bin Ahmed Al Qasimi, Sharjah will make significant enhancements to the nation’s energy resources to meet residential, industrial and utility demands. 

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