NEW SHARJAH FIRM TO BUILD Dh400m GAS SWEETENING PLANT
Partners Sharjah Government, Crescent and six GCC investors

By C.L. Jose Staff Reporter

Dubai
A new Dh400 million joint sector company has been set up in Sharjah to sweeten gas. Sajaa Gas Private Ltd Co (SajGas), a new joint venture company, has been established between the Government of Sharjah, together with Crescent Petroleum (as initial founder shareholders) and six prominent investors from the GCC, on the gas sweetening and sulphur recovery project.

SajGas was established by the Sharjah Government along with Crescent Petroleum a few months ago. Together they hold the largest stake in the company whose shareholder base was expanded to eight recently.

The shareholders of SajGas are from Saudi Arabia, Kuwait, Bahrain, Abu Dhabi and Sharjah.

The inaugural meeting of the shareholders of SajGas was held yesterday at the Sharjah Petroleum Council.

"This is a watershed step involving the private sector in a mid-stream industrial project backed by the government, and is considered to be the largest standalone gas plant of this type in the UAE," said a spokesman.

"The company has commenced work on the construction of an environment-friendly plant which will adhere to world-class standards and is expected to be completed by end-2005."

Petrofac International has been appointed the Epic contractor for the project. The plant, according to company officials, will have a capacity to process 600 million standard cubic feet of gas per day, and there are plans for further expansion.