Dana Gas Signs Gas Development Agreements With Sharjah, Ajman

Dana Gas has said that it has signed a set of agreements with the Sharjah and Ajman Governments to jointly develop the shared field located around 40 kilometers off the two coasts.  These included a unitization agreement for management of the shared field, gas sales and purchase agreements, and the joint operating agreement.

The agreements cover the development of the gas field discovered in the area by drilling horizontal wells and installation of offshore platform for process of gas production via offshore pipeline of 25 km. Initial gas production from the field is planned for the first half of 2014. 

The produced gas will be used mainly for power generation which will make significant savings in fuel cost, Dana Gas Executive Director Rashid Al-Jarwan said.