Sharjah has made it first onshore natural gas discovery in over 30 years.
The Sharjah National Oil Corporation (SNOC) and its Italian partner ENI, made the discovery at the Mahani-1 exploration well within the first year of their partnership.
The well, which was drilled at a total depth of 14,597 feet, has tested gas with flow rates of up to 50 million standard cubic feet per day.
The size of the discovery will be further evaluated in due course.
Mahani-1, located in the area B concession, is the first exploration well drilled by SNOC following the acquisition of a new 3D seismic survey covering the territory.
“The discovery fulfils the emirate’s commitment to making reliable and sustained gas supplies available throughout the UAE”, said H.H. Sheikh Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Chairman of Sharjah Oil Council.
He added that the discovery supports Sharjah's development process and will work to bring about a major transformation in the industrial and commercial fields in the emirate.
Cultural and creative industries should be treated as a core pillar of national economic strategy, according to a new report launched by FTI Consulting in partnership with the World Governments Summit.
Dubai-based TECOM Group has reported a strong financial performance for 2025, driven by rising demand across its commercial, industrial and land portfolios.
Family-owned businesses are being encouraged to take a more active role in shaping sustainable investment and social impact, as leaders met in Dubai to discuss how family wealth can be positioned for the future.
The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Vietnam has officially come into force, with an aim to "unlock investment opportunities in vital sectors such as renewable energy, technology and agriculture".
India's financial markets rallied sharply on Tuesday after a trade deal that slashed US tariffs on Indian goods to 18 per cent from 50 per cent, a development that investors said lifts a key overhang over the country's stocks, bonds and currency.
The second round of trilateral talks between Russia, Ukraine and the United States has begun in Abu Dhabi, as diplomatic efforts continue to advance the political process towards resolving the crisis.
A new initiative is set to expand artificial intelligence education across Dubai’s private schools, aiming to equip students with essential AI skills for the future.