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ENERGY-
#1-New gas reserves discovered in Sharjah: The Sharjah Petroleum Council discovered new gas reserves in “promising economically viable quantities” in the Al Hadiba field, located north of the Al Sajaa Industrial Area in Sharjah, according to a statement. The quantities will be confirmed through upcoming testing over the next few days.
Sharjah has four other oilfields: Al Saja’a, Kahif, Mahani and Muayed.
This marks the first new discovery in the emirate since 2020, when state-owned Sharjah National Oil Corporation (SNOC) discovered a new onshore well of natural gas and condensate alongside Italy’s Eni — marking its first discovery in three decades.
#2- Dana Gas’ production in Iraq back to normal levels: Natural gas producer Dana Gas has brought back production at the Khor Mor gas field in Iraq’s Kurdistan region to normal levels after the company halted production due to a drone attack that hit the field last weekend, it said in an ADX disclosure (pdf). The Kurdistan regional and Iraqi federal governments have ensured security measures to strengthen defenses at the field.
#3- Enoc-Chevron JV Eppco Lubricants partnered with Swedish steel manufacturer SKF to bring SKF RecondOil technology to the UAE, according to a press release. The newly introduced technology cleans used oil by removing tiny particles that can damage machinery.
AVIATION-
#1- New Fujairah-Cairo flights in July: Fujairah International Airport launched direct flights between Fujairah and Cairoat a rate of two flights per week on Sundays and Thursdays, starting July Wam reports. The development stems from a cooperation between Fujairah Airport and Egyptair, Egypt’s state-owned flag carrier.
#2- Etihad Airways inked reciprocal interline partnerships with five new airlines — Kam Air, Sky Express, Rex Airlines, Jeju Air, and Myanmar Airways International — it said in a statement. The agreements streamline connectivity and baggage check-through on single tickets across networks and offer connections to some 80 destinations across Afghanistan, Greece, Australia, Korea, and Myanmar from Etihad’s gateways.
REAL ESTATE-
#1- Aark Developers launched its AED 4 bn Sora Beach Residences in Al Marjan Island, the first high rise on the island, according to a press release. Japanese architectural firm Nikken Sekkei — behind the design of the recently launched One Zabeel in Dubai — will design the development.
#2- Al Ashram appointed main contractor for Luce Palm Jumeirah: Taraf — Yas Holding ’s real estate arm — awarded Al Ashram Contracting a construction contract for an undisclosed value for its residential development, Luce at Palm Jumeirah, according to a press release.
CAPITAL MARKETS-
DFM collaborates with Swiss Six for dual/cross-listings and share transfers: The Dubai Financial Market (DFM) inked an agreement with the Swiss Financial Market Infrastructure Group Six to facilitate cross-listings and share fungibility, according to a statement (pdf) by the DFM. The agreement will also see Six and the Dubai Central Securities Depository work towards establishing a central securities depository for cross-border transfers, and identify further windows for cooperation on post-trade services and market data.
INVESTMENT-
Adia anchors Indian healthcare firm ahead of IPO: Abu Dhabi Investment Authority (Adia) was among 36 institutional investors that bought shares in Indian healthcare firm Indegene ahead of its IPO on the Bombay Stock Exchange, according to a bourse filing (pdf). Adia bought 276k shares, representing a 2.28% stake in Indegene. The stake was purchased for INR 12.5 mn (c. AED 550k), according to Indian broker 5paisa. Indegene raised a total of INR 5.49 bn (USD 65.8 mn) from institutional investors purchasing some 1.21 bn equity shares.
