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.



Trump to Take Virtual Center Stage in Davos

Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP
Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP
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Trump to Take Virtual Center Stage in Davos

Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP
Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP

Donald Trump on Thursday will star in an eagerly-anticipated online appearance at the World Economic Forum in Davos, addressing global elites whose annual gabfest has been consumed by the US president's days-old second term.
Trump's name has come up in almost every conversation in the Swiss Alpine village this week: in formal panel discussions, in shuttles ferrying people up and down the mountain, and in exclusive parties along the promenade.
"Trump is a provocateur. He enjoys being a provocateur, and many people at Davos are bored in their life. He's not boring. So, you know, it's kind of exciting," Harvard scholar and WEF regular Graham Allison told AFP.
Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Trump, himself a businessman who made his fortune in real estate.
He already gave Davos a taste of what is to come since his inauguration on Monday, which coincided with the WEF's first day: tariff threats against Mexico and Canada, the US withdrawal from the Paris climate pact, a threat to take the Panama Canal, just to name a few.
His plans to cut taxes, reduce the size of the federal government and deregulate industries will find a sympathetic ear amongst many businesses.
"Trump has been running America like America Inc. He's been very focused on getting the best advantage for the US in any way that he can," Julie Teigland, a managing partner at EY consulting firm, told AFP.
"He knows that he needs trade partners to do that. He does. And so I expect him to give messages along these lines," she said.
'No winners'
His trade partners had a chance to react in Davos earlier this week.
Without invoking Trump's name, Chinese Vice Premier Ding Xuexiang warned that "there are no winners in a trade war".
German Chancellor Olaf Scholz vowed to defend free trade but he took a conciliatory tone, saying that he had good earlier discussions with Trump.
European Union chief Ursula von der Leyen said that Brussels was ready to negotiate with Trump, but she also underscored the bloc's diverging policy with him on climate, saying it would stick by the Paris accord.
Panama's President Jose Raul Mulino dismissed Trump's claims to the Panama Canal, which was built by the United States but handed to the Central American country in 1999 under two-decade old treaties.
Mulino said he was "not worried" and that Panama would not be "distracted by this type of statement".
'Celebrate Trump'
The Republican president also has fans in Davos.
One of his biggest cheerleaders on the world stage, Argentina's libertarian President Javier Milei, will make a speech to the WEF on Thursday, hours before Trump.
"The world should celebrate the arrival of President Trump," Milei said at a Bloomberg event on Wednesday.
"The golden era he proposes for the United States will shine a light for the whole world as it will spell the end of the woke ideology, which is doing so much harm to the planet," Milei said.
One of his backers in the business world, Marc Benioff, the chief executive of US tech firm Salesfoce, was also enthusiastic at the same Bloomberg chat.
"I'm very positive," he said. "I'm just looking forward to seeing what's going to happen. And it's a new day and, it's an exciting moment."