In the presence of His Highness Sheikh Ahmed bin Sultan Al Qassimi, Deputy Ruler of Sharjah and Chairman of the Sharjah Petroleum Council, BP on Thursday morning handed back to the Government of Sharjah its 40% shareholding in the Sharjah Concession, following the expiry of the Concession and 35 years of investment and hydrocarbon resource development in Sharjah.
The Sharjah Concession began in November 1978 when Amoco, which merged with BP in 1999, was awarded the Concession. The following year, Amoco made the important Sajaa gas and condensate field discovery. As Operator, BP was accountable for managing all of the Emirate of Sharjah's onshore gas and condensate production, providing feedstock for the Sharjah Electricity and Water Authority and condensate and liquefied petroleum gas for export. Peak production reached over 800 million standard cubic feet of gas per day. BP has now completed a smooth transition of the operation back to the Sharjah National Oil Corporation.
During the handover ceremony, which took place at the headquarters of the Sharjah Petroleum Council, His Highness Sheikh Ahmed bin Sultan Al Qassimi commended the pioneering role played by BP in the economic development of Sharjah. He also commended the company's adherence to the best standards, as well as its import of international expertise in the oil industry and contribution to the development of national human resources.
Also present at the ceremony were Sheikh Sultan bin Ahmed bin Sultan Al Qassimi, Deputy Chairman of the Sharjah Petroleum Council, Sheikh Mohammed bin Ahmed bin Sultan Al Qassimi, Director of the Chairman's Office, Eng. Waleed Rashid Demas, Secretary General of the Sharjah Petroleum Council and Eng. Saleh Ali Al Ali, Member of the Sharjah Petroleum Council, along with representatives of BP and Petrofac.
Sheikh Sultan bin Ahmed Al Qassimi commented: BP has played a significant role in Sharjah, bringing its international expertise to develop our hydrocarbon resources while also helping to develop the capability of the national workforce for Sharjah. We thank BP for its enormous contribution over the years.
BP Chief Representative and General Manager for the UAE, Abdul Karim Al Mazmi, added: BP is proud of its role in exploring, discovering and bringing into production important gas resources for the Emirate of Sharjah. Our objective over the 35-year term of the Concession has been to maximize production safely and efficiently and to extend the working life of maturing gas and condensate fields through advanced production techniques and technologies.
BP continues to actively invest in Sharjah through its downstream businesses. Currently, Air BP operates in a Joint Venture with the Sharjah Aviation Service Co (SASCO) for refueling of aircraft, as well as with the Sharjah Pipeline Company LLC (Anabeeb) to import and transport jet fuel by pipeline from Hamriyah to Sharjah Airport.
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In the presence of His Highness Sheikh Ahmed bin Sultan Al Qassimi, Deputy Ruler of Sharjah and Chairman of the Sharjah Petroleum Council, BP on Thursday morning handed back to the Government of Sharjah its 40% shareholding in the Sharjah Concession, following the expiry of the Concession and 35 years of investment and hydrocarbon resource development in Sharjah.
