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Dana Gas to Increase Investments in Egypt

Source: Ahram Online 2/12/2013, Location: Africa

The Dana Gas Company, the Middle East's largest private sector natural gas company, is mulling increasing its petroleum and natural gas investments in Egypt, now estimated at $1.8 billion, within the coming period, Petroleum Minister Osama Kamal said on Tuesday.

After a meeting with Dana Gas Company CEO Rashed Al-Jarwan, Kamal said the talks tackled plans to increase oil production in Upper Egypt at the Al Baraka field, which was discovered in 2007 by Dana Gas on the Kom Ombo Concession and is jointly operated with Sea Dragon Energy.

Dana Gas has a 50 per cent working interest in the Komombo Concession.

The two sides also tackled the LPG extraction plant project at Ras Shukhier on the Gulf of Suez, a joint venture between Dana Gas and the Egyptian-Bahrain Gas Development Company.

Dana Gas is the sixth largest natural gas producer in Egypt and its total production is expected to reach more than 200 million cubic feet daily within the coming period.

In addition to the above mentioned concessions, Dana Gas owns a 100 per cent interest in three concessions in the Nile Delta.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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