Dana Gas has signed agreements with the Sharjah and Ajman governments to jointly develop the shared field located around 40 kilometres of the two coasts.
The agreement includes plan for unitization of management over the shared field, gas sales and purchase agreements and the joint operating agreement. The fields were discovered in the area by drilling horizontal wells and installation of offshore platforms for process of the process of gas production via offshore pipeline of 25km.
Initial gas production from the field is planned for the first half of 2014.
“Dana Gas is proud to play the positive role in developing the gas field, marking the first exploration and production project for the company in the UAE and GCC region. The produced gas will be used mainly for power generation which will make significant savings in fuel cost. We look forward to a long and fruitful partnership with the Governments of Sharjah and Ajman,” said Dana Gas executive director and acting CEO Rashid Al-Jarwan.
The agreement was signed by Deputy Chairman of the Petroleum Council, HE Sheikh Sultan bin Ahmed Al Qasimi, on behalf of the Government of Sharjah; HE Sheikh Ahmed bin Humaid Al Nuaimi, as representative of the Ruler of Ajman for Financial and Administrative Affairs on behalf of the Government of Ajman; and Mr. Rashid Saif Al-Jarwan.
