EAU – DISCOVERY OF A NEW GAS FIELD BETWEEN ABU DHABI AND DUBAI.
The discovery in the UAE of a large shallow gas field, which could contain up to 80 trillion cubic feet (scf) of reserves, was recently announced. Early estimates indicate that the new field, located in an area of 5000 km2 between the Emirates of Abu Dhabi and Dubai, would be the fourth largest natural gas reserves in the Middle East and would represent the biggest gas find anywhere since 2005.
Its economic effects in terms of the scale of the field, which is equivalent to 29% of the country’s proven conventional gas reserves, and the superficial location of the field, which implies much lower exploitation costs compared to other gas fields in the country, are potentially very promising.
The news of the discovery follows the announcement of new fields in 2019 (7 billion barrels of oil, 58 trillion scf of conventional gas and 160 trillion scf of unconventional gas) as well as the discovery of natural gas and condensate made by ENI in recent weeks in the Emirate of Sharjah.
