SNOC plans more Sharjah me’ as Fed flummoxed

Sharjah National Oil Corporation plans to issue a second licensing round for oil and gas concessions in the emirate as it seeks to end energy shortages and meet industrial demand.

The state-owned company will put out bids for oil and gas exploration onshore and offshore in areas in the east coast of the emirate, Hatem Al Mosa, chief executive of SNOC, said yesterday. The timing of the tender and the number of concessions are still undecided.

“It involves putting licensing rounds for current open acreage in Sharjah that’s not at the moment with any other companies and if any of the current occupied acreage becomes open in the future, we’d put it for the rounds,” Mr Al Mosa said. “We haven’t decided the timing yet, it could be this year, it could be 2020.”

Plans for further exploration follow Sharjah’s first competitive bid in which Italian oil and gas company Eni won three concessions earlier this month.

The bid, which was launched last year, awarded Eni areas A, B and C onshore exploration concessions. State-owned Abu Dhabi National Oil Company also this month awarded two offshore exploration blocks to a consortium led by Eni and PTT Exploration and Production Public Company of Thailand in its first competitive bid round.

Mr Al Mosa said he is confident in his company’s ability to plug Sharjah’s energy shortages as the emirate intensifies efforts for exploration.

“I feel very comfortable, with