Sharjah Opens Maiden Bid Round

The UAE emirate of Sharjah last week announced its maiden onshore acreage licensing round covering three concession areas. The bids will close November 18, 2018 and contracts will come into effect January 1, 2019.

State-owned Sharjah Petroleum Council (SPC) is seeking companies and investors to bid for Areas A, B and C, located in the producing Thrust Zone play trend, including un-appraised deeper gas discovery below Sajaa gas-condensate field, state-owned Sharjah National Oil Corporation (SNOC) said June 25. SPC has appointed SNOC to conduct the bid round.

“The emirate of Sharjah is delighted to invite competent petroleum exploration and production companies as well as investors to participate in Sharjah’s first onshore licence round and join the Sharjah National Oil Corporation in exploring the onshore potential of Sharjah, based on mutually beneficial concession agreements,” said Ahmed Bin Sultan Al-Qasimi, chairman, SPC.

Newly acquired extensive 3D seismic (shot in 2016 and fully processed in 2017 and early 2018), significantly improved the imaging of the fold-thrust belt and early indications are emerging of potentially large, undrilled leads & prospects and untested plays, SNOC said, adding that significant capacity is available in existing SNOC field infrastructure, gas and condensate processing and export facilities.

Recently, another UAE emirate of Abu Dhabi announced the details of its first-ever competitive exploration and production bid round for six oil and gas blocks.