Sharjah, the second-most populous emirate in the UAE has been subjected to repeated power cuts in the past. ( Pawan Singh / The National ) For Stock Sharjah has launched a licensing round for three oil and gas blocks in the emirate, as it looks to develop more gas to meet growing power demand and plug shortages. Sharjah National Oil Corporation will retain 25 per cent interest in concessions A and C, and a 50 per cent stake in Concession B, which is an unappraised deep gas discovery below the Sajaa gas-condensate field, the company said on its website. “The intended concessional arrangements will facilitate the efficient and speedy development and monetisation of any commercial discovery, whereby the National Oil Corporation is set to purchase and process the hydrocarbons through its existing gas processing and transmission facilities, where applicable,” said Ahmed Bin Sultan Al Qasimi, chairman of the emirate’s […]