U.A.E. Finds World’s Biggest Gas Field In 15 Years

U.A.E. Finds World’s Biggest Gas Field In 15 Years

The UAE has announced what could be the largest natural gas discovery in 15 years. The reserve is located between the two largest Emirates, Abu Dhabi and Dubai. The new reserve is poised to push the UAE closer to its goals of energy self-sufficiency.

The Jebel Ali reservoir, as it has been named, has 80 trillion cubic feet of gas resources, according to tweets by Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi’s crown prince, and Sheikh Mohammed bin Rashid Al Maktoum, the U.A.E.’s prime minister and Dubai’s ruler.

The country is seeking to become self-sufficient in terms of gas supply by 2030, a step that would allow it to break its reliance on imports. The reservoir has the potential to meet the UAE’s entire gas demand for approximately 30 years.

Abu Dhabi National Oil Company (ADNOC), the government-owned energy giant, will jointly develop the reservoir with the Dubai Supply Authority (DUSUP). Dubai-owned DUSUP distributes gas in the emirate.

The UAE, an OPEC member and a major oil exporter, is looking to gas and other sources of energy to diversify and guarantee security of energy supply. The burgeoning Middle Eastern business and tourism hub is building nuclear, solar and coal-fired power plants, while ADNOC has invited international companies to help tap previously inaccessible gas deposits.

The Jebel Ali discovery is the biggest since the Galkynysh field was found in Turkmenistan 15 years ago, according to WoodMac’s Yates. The announced resources would make it the fourth-biggest gas field in the Middle East according to WoodMac.

While the U.A.E. is among the world’s 10 biggest holders of gas reserves, the Jebel Ali project marks the first time ADNOC has explored for the fuel in Dubai. The company drilled more than 10 wells to make its discovery and will use both standard and unconventional drilling techniques to pump out the fuel, it said.

For the latest news across the UAE, please visit our website for similar articles, or contact us today for an initial, private consultation. 

Source: Bloomberg