Dana Gas has announced that it has signed a set of agreements with the governments of Sharjah and Ajman to jointly develop a shared field located 40km off the coasts of the two emirates
The agreements included an unitisation agreement for management of the shared field, gas sales and purchase agreements, and the joint operating agreement.
A company statement said that the agreements cover the development of the gas field by drilling horizontal wells and installation of offshore platform for process of gas production via an offshore pipeline of 25km.
Initial gas production from the field has been planned for the first half of 2014.
Dana Gas executive director Rashid Al Jarwan said, “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.”
