Sharjah's gas partnership with Rosneft begins

A partnership between a Sharjah and a Russian energy firm to drill onshore for gas in the emirate was launched today. The Crescent Petroleum Company and the stated-owned Russian firm Rosneft have placed an exploratory well in Madam Al Nad, an area of 1,243 square kilometres. Sheikh Sultan bin Mohammed, Crown Prince and Deputy Ruler of Sharjah, was present at a ceremony to mark the start of the project along with Igor Sechin, Russia's deputy prime minister and chairman of Rosneft. Sheikh Sultan said he was pleased at the choice of Rosneft and the project was an indication of the growing importance of Sharjah in the energy industry. Mr Sechin expressed his pleasure to witness the beginning of the collaboration between two countries from two major regions for oil and gas production. *WAM