Neighbouring emirates of Sharjah and Ajman have signed a production sharing agreement (PSA) for joint development of an offshore oil field between their coastal borders.
Shaikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Chairman of Sharjah Petroleum Council, signed the PSA for the government of Sharjah, while Shaikh Ahmed bin Humaid Al Nuaimi, Ajman Ruler’s Representative for Administrative and Financial Affairs, signed for the government of Ajman, in the presence of CEO of Dana Gas Rashid Al-Jarwan. The agreement will further consolidate bonds across the emirates and boost national economic development.
Dan Gas runs the oilfield, located about 40 kilometres off the coast of Ajman and Sharjah.
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