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UAE finds 2.3 trillion cubic meters of new gas reserve

- Discovery marks the second finding in three months

home > Upstream, Middle East-Africa 03.02.2020 14:22 Övunç Kutlu

UAE finds 2.3 trillion cubic meters of new gas reserve

The United Arab Emirates (UAE) has found a major natural gas reserve in the region between Saih Al Sidra in Abu Dhabi and Jebel Ali in Dubai, according to a statement by the country's vice president and prime minister on Monday.

The new discovery is estimated to hold 80 trillion cubic feet (2.28 trillion cubic meters) of new gas reserves, Sheikh Mohammed bin Rashid Al Maktoum, who is also the ruler of the Emirate of Dubai, said on his personal Twitter account.

"A strategic cooperation agreement was signed between Abu Dhabi National Oil Company (ADNOC) and Dubai Supply Authority in order to develop gas resources in the area between the emirates of Abu Dhabi and Dubai, as part of a joint project called Jebel Ali Project," he added.

ADNOC will invest and supply technology and expertise to develop and produce discovered gas resources, in addition to conducting new surveys and exploration in the region to assess more gas resources and conduct a final study of the cost of its production, according to the agreement.

This marked the second major natural gas discovery in the UAE in the last three months.

Abu Dhabi’s Supreme Petroleum Council (SPC) had announced on Nov. 5 it had discovered new hydrocarbon reserves that include 7 billion barrels of oil and 1.64 trillion cubic meters of conventional gas, and unconventional recoverable gas resources of 4.53 trillion cubic meters.

That had carried the UAE's total reserves to 105 billion barrels of oil and 7.73 trillion cubic meters of conventional gas that are recoverable, as the UAE had surpassed Kuwait in oil reserves and left Venezuela behind in gas reserves, according to BP’s Statistical Review of World Energy 2019.

The discovery had moved the UAE from seventh to the sixth position in the world's ranking of hydrocarbon reserves.

With the recent discovery, the country has now increased it total gas reserves to 10.01 trillion cubic meters.

(10 trillion cubic feet = 286 billion cubic meters)

By Ovunc Kutlu, Busranur Begcecanli

Anadolu Agency

energy@aa.com.tr


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30.08.2018 Upstream , Upstream , Americas

Saudi Aramco, Russian university ink collaboration deal

-Company to conduct joint research programs on upstream technology with Lomonosov Moscow State University
30.08.2018 Upstream , Upstream , News from companies , Eurasia , Middle East-Africa

Petrofac awarded $600 million project in Algeria

-Deal signed with state firm Sonatrach for engineering, procurement and construction of Tinhert Gas Field Development Project
29.08.2018 Upstream , News from companies , Europe , Middle East-Africa

Eni granted new exploration license offshore Egypt

- Company plans to proceed with drilling of exploration well in second half of the 2018, Eni announces
15.08.2018 Upstream , Upstream , Middle East-Africa

Total still in South Pars gas project: Iranian official

-French energy giant has not yet withdrawn from Iranian market despite U.S. sanctions on Iran, according to Shana news agency
14.08.2018 Upstream , Europe , Middle East-Africa

Oil, gas discoveries up nearly 30 percent in first half of 2018

-Guyana leads in total discovered resources in first six months of year, according to Rystad Energy analysis
01.08.2018 Upstream , Upstream , World , General

Oil rig count in US shows increase this week

- Number of oil rigs rises by three
29.07.2018 Oil , Upstream , Americas

Iran expects 84 mcm/d rise in South Pars gas output

-Field's daily production capacity expected to go up by 84 million cubic meters by March's end, according to Shana’s report
19.07.2018 Upstream , Upstream , Middle East-Africa

Nord Stream 2 is a 'political' project: Poroshenko

-In interview with France24, Ukrainian president says he ‘fully supports’ Trump’s recent remarks on planned gas pipeline
16.07.2018 Upstream , Europe , General

Equinor submits 3rd phase plan for Troll field on NCS

-Phase 3 of Troll field to realize 2.2 billion barrels of oil equivalent, company official says
11.07.2018 Upstream , Upstream , News from companies , Europe

Eni strengthens its presence in Norwegian offshore

- Eni Norge, Point Resources merge to become Var Energi with plan to invest $8 bln. in exploration & prod. over next 5 years
02.07.2018 Upstream , Europe

Developing countries to invest $35-55B in gas infras.

- More than 90 percent of global gas consumption growth up to 2040 will come from cities, Global Gas Report shows
02.07.2018 Natural Gas , Finance , Upstream , Downstream , World , Europe , General

Egypt, Greece, Greek Cypriot administration hold drills

- Tripartite air/sea military exercises begin along Egypt’s Mediterranean coast
26.06.2018 Upstream , Middle East-Africa

World refinery capacity grows in 2017

- World oil refinery capacity increases by 104,000 barrels per calendar day (b/cd) to 96.93 million b/cd, OPEC report says
08.06.2018 Oil , Finance , Upstream , Downstream , General

Iran says Total has 60 days to get US sanctions waiver

-French company to stay in South Pars gas project if it obtains Washington's endorsement, Iran's oil minister says
31.05.2018 Upstream , Middle East-Africa

Polish PM slams Nord Stream 2 gas pipeline

-Proposed pipeline linking Russia and Germany threatens Europe's energy security, solidarity, Mateusz Morawiecki says
29.05.2018 Upstream , Europe

US Democrats submit bill to stop drilling in Arctic Refuge

-Democratic bill aims to keep oil and gas drilling out of Alaska's Arctic National Wildlife Refuge
23.05.2018 Upstream , Upstream , Americas

Germany backs Nord Stream 2, says US acting in self-interest

-Economy Minister Peter Altmaier blames Washington for seeking to block Russia-Germany gas pipeline to boost its own exports
22.05.2018 Upstream , Europe

Rosneft starts drilling offshore prod. well in Vietnam

-Russian state oil firm says Lan Do field has initial natural gas reserves of 23 billion cubic meters
16.05.2018 Upstream , News from companies , Asia

China’s coal production up 4 percent in April

-Last month’s raw coal production increased by 4.1 percent on an annual basis, according to latest stats
15.05.2018 Nuclear , Thermal , Coal , Upstream , Upstream , Wind , Solar , Asia

Eni acquires promising exploration block in Indonesia

- Eni strengthens position in East Kalimantan’s Kutei Basin - a promising hydrocarbon province in Indonesia, company says
03.05.2018 Upstream , Upstream , Asia

Shell to invest in Vito project in Gulf of Mexico

- Shell Offshore Inc. announces final investment decision for Vito deep-water project in US Gulf of Mexico
25.04.2018 Oil , Finance , Upstream , Americas , General

Eni, Sonatrach sign exploration & dev. deals in Algeria

-"It will lead to production of new gas reserves through the use and optimization of existing infrastructures," Eni announces
18.04.2018 Upstream , Upstream , Middle East-Africa

Eni & Lukoil win new hydrocarbon block offshore Mexico

- Eni will be operator of license with a 75 percent stake while Lukoil will hold remaining 25 percent share in joint venture
30.03.2018 Upstream , Upstream , Americas

Brent oil above $65 at week ending March 16

- Brent crude at $65.18 per barrel while WTI sees $61.34 on Monday
16.03.2018 Oil , Finance , Upstream , General

Eni signs concession deal for Abu Dhabi offshore field

- Eni signs two concession agreements for stake in Lower Zakum, Umm Shaif and Nasr offshore oil fields
13.03.2018 Oil , Upstream , Eurasia , General

DEA changes CEO before major merger with Wintershall

- Maria Moraeus Hanssen takes over as CEO and board chair of DEA, DEA Deutsche Erdoel AG announces
05.01.2018 Upstream , Upstream , Europe

Eni and Oman's OOCEP ink hydrocarbon production deal

- Eni and Oman Oil Company Exploration and Production sign an agreement for Block 52 Offshore Oman, Eni announces
15.11.2017 Upstream , Upstream , Middle East-Africa

Global energy needs to expand 40% by 2040: IEA

- China will lead the way for faster clean energy transition, IEA's report shows
15.11.2017 Upstream , Upstream , World

BP starts gas prod. from Khazzan gas field in Oman

- Field is expected to produce an estimated 10.5 trillion cubic feet of recoverable gas resources
26.09.2017 Natural Gas , Upstream

Turkey's total gas imports rise by 28.4% in July

- Turkey imports 3.73 bcm of natural gas via pipeline and 396 mln. cubic meters through LNG totalling 4.13 bcm in July: EMRA
25.09.2017 Natural Gas , Upstream , Downstream

Two directors appointed to Genel Energy's board

- A geologist and a financier are assigned as independent non-executive directors of Genel Energy, company announces
11.09.2017 Natural Gas , Oil , Upstream , Upstream

Faroe Petroleum acquires 14% stake in UK's Blane field

- Faroe's shares in the Blane Field now totals 44.5 percent, the company says
28.07.2017 Natural Gas , Finance , Upstream , Invesments

Echo Energy inks deal for onshore Bolivian gas block

- The company expects to reach commercial agreement for the block following the completion of technical evaluation
27.07.2017 Natural Gas , Upstream

Eni's CEO talks cooperation with Qatar Petroleum head

- Italian energy company Eni's CEO Descalzi meets with head of Qatar Petroleum, Saad Sherida Alkaabi, company announces
24.07.2017 Natural Gas , Upstream

Turkey's methane gas potential close to $37 billion

- Turkey has 130 billion cubic meters in coal mine methane gas capacity, equal to $37 billion: General. Dir. of Oil Affairs
12.07.2017 Electricity , Natural Gas , Coal , Upstream

Saudi Aramco to raise share in natural gas production

- Company will promote natural gas production, says head of Saudi Aramco
10.07.2017 Natural Gas , Upstream

GE, ENI sign deals to develop gas offshore Mozambique

- Two five-year contracts signed for subsea production systems for Mozambique offshore development projects
28.06.2017 Natural Gas , Upstream

Norway's En. Min. approves DEA's plan in Norwegian Sea

- DEA's plans for development of Njord and Bauge fields in Norwegian Sea get approval from Energy Ministry, company announces
22.06.2017 Natural Gas , Oil , Upstream , Upstream

Greek Energean to explore oil in onshore Western Greece

- Aitoloakarnania area is considered 'strategically important' for the Greek oil and gas sector, the company says
26.05.2017 Natural Gas , Oil , Upstream , Upstream

Vitol & Eni start production in Ghana's Sankofa project

- Production will ramp up to at least 45,000 b/d and first cargo will be loaded in summer, company announces
22.05.2017 Natural Gas , Oil , Upstream , Upstream

Exploring Mediterranean gas, good move by Turkey: Delek

- \"Delek would be more than happy to invest in natural gas exploration in Turkey,\" Delek Drilling and Avner CEO says
08.05.2017 Natural Gas , Upstream , Downstream

Spain's Repsol sees 59% rise in net income in 1Q17

- Company's EBITDA also increased to €1.8 billion, 80 percent greater than in the same quarter last year
05.05.2017 Natural Gas , Oil , Upstream , Upstream

Colombia's Ecopetrol discovers gas in Caribbean Sea

- Colombian Ecopetrol and U.S.-based Anadarko discover natural gas in Caribbean Sea, Colombia's President Santos tweets
04.05.2017 Natural Gas , Upstream

Turkey, Israel gas deal approval foreseen in few months

- Commercial and government-to-government agreements should be signed to realize the project: Israeli energy min official
02.05.2017 Natural Gas , Upstream , Downstream
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