New Gas Field Discovered in Sharjah

The new discoveries of oil and gas reserves in Abu Dhabi will further boost the UAE economy. WAM
The new discoveries of oil and gas reserves in Abu Dhabi will further boost the UAE economy. WAM
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New Gas Field Discovered in Sharjah

The new discoveries of oil and gas reserves in Abu Dhabi will further boost the UAE economy. WAM
The new discoveries of oil and gas reserves in Abu Dhabi will further boost the UAE economy. WAM

The Sharjah National Oil Corporation (SNOC) and its Italian partner ENI have announced a successful discovery of natural gas and condensate onshore at the Mahani field in Sharjah with a flow rate of up to 50 million standard cubic feet per day.

This represents the first onshore discovery of gas in the emirate since the early 1980s.

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.

Mahani-1, 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 said in a statement.

Deputy Ruler of Sharjah and Chairman of Sharjah Oil Council Sheikh Ahmed bin Sultan al-Qasimi said the discovery is set to bolster the emirate's economy and contribute to its energy reserves.

The discovery will bring about a "major transformation" in Sharjah's industrial and commercial sectors by providing energy resources and attracting top global companies to invest in various sectors in the emirate, he added.

Sheikh Ahmed continued that “Sharjah provides strategic energy infrastructure to help the nation meet the growing demand for energy by residential, industrial and utility consumers.”

Further, President of SNOC Sheikh Sultan Bin Ahmed al-Qasimi said that the discovery will reflect positively on the economic sector in Sharjah and the goals of sustainable development, energy security, decent livelihoods and the well-being of people.

He pointed out that the new gas field constitutes an important addition to support the Emirate’s economy, which is classified as strong and stable, and would enhance its economic competitiveness.

Sheikh Sultan expressed confidence that this would help attract more industrial investments to Sharjah and generate greater revenue resources, contributing to the Emirate’s stability and financial sustainability.

Sheikh Khalid bin Abdullah bin Sultan al-Qasimi, chairman of the Department of Seaports and Customs in Sharjah, said the natural gas discovery will stimulate various sectors by generating more commercial and industrial projects.

Speaking on the same occasion, CEO of SNOC Hatem al-Mosa added: “This is the first onshore discovery in Sharjah in 37 years and marks the beginning of an exciting time for SNOC and Sharjah’s energy sector.”

SNOC owns and operates over 50 wells distributed in three fields, a gas processing complex, and 2 hydrocarbon liquid storage and export terminals. Its Sajaa complex is the hub of gas pipelines connecting all northern Emirates.



Turkish Manufacturing Sector Contracts in May as Demand Weakens 

A seagull eats corn thrown by vendors selling the popular Turkish stuffed baked potato dish known as "Kumpir" at a waterfront square in Ortakoy, Istanbul, Türkiye, Friday, May 23, 2025. (AP)
A seagull eats corn thrown by vendors selling the popular Turkish stuffed baked potato dish known as "Kumpir" at a waterfront square in Ortakoy, Istanbul, Türkiye, Friday, May 23, 2025. (AP)
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Turkish Manufacturing Sector Contracts in May as Demand Weakens 

A seagull eats corn thrown by vendors selling the popular Turkish stuffed baked potato dish known as "Kumpir" at a waterfront square in Ortakoy, Istanbul, Türkiye, Friday, May 23, 2025. (AP)
A seagull eats corn thrown by vendors selling the popular Turkish stuffed baked potato dish known as "Kumpir" at a waterfront square in Ortakoy, Istanbul, Türkiye, Friday, May 23, 2025. (AP)

Türkiye's manufacturing sector continued to contract in May, with firms scaling back production, employment, and purchasing activity amid muted demand conditions, a survey showed on Monday.

The Istanbul Chamber of Industry Türkiye Manufacturing Purchasing Managers' Index (PMI) fell slightly to 47.2 in May from 47.3 in April, marking the 14th consecutive month of moderation in the sector. A PMI reading below 50 indicates a contraction in activity.

New orders declined, reflecting a persistently softening demand environment, and contributed to the most marked slowdown in manufacturing production since last October, the survey said.

Employment and purchasing activity were also scaled back, while manufacturers reduced their inventories of both purchases and finished goods, the survey also showed.

Input costs continued to rise sharply, but the pace of inflation eased from the one-year high seen in April, the survey said, while output price inflation also softened, reaching its lowest level in 2025 so far.

"Firms will be hoping that growth can be kick-started in the near future. There were at least some signs of inflationary pressures easing over the month which could provide some respite for manufacturers," said Andrew Harker, Economics Director at S&P Global Market Intelligence.