United Arab Emirates-based Dana Gas is set tie link up with private equity company Abraaj Capital to make joint acquisitions and invest in natural gas projects.
Abraaj Capital will invest in natural gas projects in the Middle East, North Africa and South Asia with Dana Gas, said Dana in a statement.
Dana signed an agreement with Arab Petroleum Investments Corporation (APICORP) in May under which APICORP will contribute equity to natural gas projects, including a natural gas liquids processing plant in Egypt.
The company completed a $1.09 billion acquisition in January of Centurion Energy International, a Canadian company with development leases and exploration licences in Egypt, Tunisia and off West Africa.
Dana plans to sell $1 billion of convertible Islamic bonds to refinance existing acquisitions, according to Reuters.