Wednesday, March 3, 2021

PROJECTS: Sharjah National Oil Corporation starts operations at gas storage project

Sharjah National Oil Corporation (SNOC) announced on Wednesday the start-up of its new gas storage project following a small-scale pilot phase using existing infrastructure since early 2017.

The first gas was injected into the on 1 January 2021, SNOC said in a statement, adding that the project would help balance gas supply and demand in Sharjah and meet the required supply flexibility for the emirate’s power sector.

SNOC had annunced last year that it awarded a $40-million contract for the Moveyeid Gas Storage Surface Facility Project to Petrofac Facilities Management International.

The project was completed on time and on budget within a year from the Engineering, Procurement and Construction (EPC) contract being awarded, the statement noted.

“The completion of this project is an outstanding achievement considering the local and international supply chain challenges we met due to the Covid-19 pandemic. It was completed without any operational, safety or environmental incidents,” said Hatem Al Mosa, CEO of SNOC.

He said the project would be “a major new business development activity for SNOC” by enabling the company to store excess gas in the winter to satisfy the summer peak demand and serve as “a readily available strategic reserve for energy security allowing us to respond to unexpected operational or market issues.”

According to the statement, the project would be operated in a fully automated mode and is designed to allow future expansion.

In addition to the new Mahani field, SNOC owns and operates over 50 wells, a gas processing complex and two hydrocarbon liquid storage and export terminals. Its Sajaa complex is the hub of gas pipelines connecting the northern Emirates.

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021

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