Emirates Update Gas Reserves with 4 km Deep Well 0 8

The discovery of new gas reserves at the Hedayba field has become the second major find in the emirate of Sharjah in the last five years, reported the National Oil Corporation of the emirate.

The National Oil Corporation of Sharjah confirmed the news of additional gas-bearing zones due to the successful development of the Hedebah-02 well, which is 4 km deep.

The Hedayba field has become the fifth discovered gas condensate site within the emirate. This discovery followed another significant gas find recorded in the region over the past five years.

Meanwhile, the UAE, which has long been one of the major oil producers in OPEC, is transitioning to proven U.S. methods of hydraulic fracturing to develop its "highly promising" unconventional gas resources with the intention of increasing production amid forecasts of rising demand.

Abu Dhabi National Oil Company (ADNOC) is exploring new sources of natural gas in deserts and coastal waters to meet local demand and supply the under-construction LNG plant aimed at exports.

As reported by Bloomberg, the company's CEO for exploration and production, Musabbeh Al Kaabi, stated that the company is applying U.S. experience in developing shale reserves—hydraulic fracturing (fracking)—and is achieving significant progress in this area, sometimes surpassing U.S. results.

The UAE and other Middle Eastern countries are ramping up gas project volumes, viewing this fuel as a key energy source for the energy-intensive boom in data centers. In addition to the Ruwais LNG project in the UAE with a capacity of 9.6 million tons annually, ADNOC is involved in projects in the U.S. and Africa.

The UAE aims to be self-sufficient in gas by 2030 while also supplying international markets. Additionally, ADNOC is increasing LNG trading volumes as producers like the U.S. ramp up export capacities for supplies to regions like Asia, where demand is expected to grow for decades. The company's international investment division is targeting supplies worldwide, including a deal announced this week for a potential participation in an LNG project in Argentina.

According to ADNOC Global Trading head Ahmed bin Talit, the company is already trading three times more LNG than it produces.