PTTEP’s Sharjah ventures have come to an end. The Thai state firm farmed into two of Eni’s three exploration licenses in the emirate in 2021 – Areas A and C – and flagged up the “high gas and condensate potential” held by Area C (MEES, 10 December 2021). However, the firm says in its Q4 results that both concessions have now been terminated after the partners failed to make any commercial discovery.
While a disappointment for Sharjah, the emirate’s debut licensing round in 2019 has been a success with Eni retaining its 50% stake in Area B alongside the Sharjah National Oil Company (SNOC: 50%). The partners discovered the Mahani field in 2020, with first gas achieved the following year (MEES, 8 January 2021). (CONTINUED - 116 WORDS)
