Dana Gas to Drill Egyptian Mega Gas Project
The company collected seismic data that revealed natural gas reserves up to 20 trillion cubic feet, which will make it second to the Zohr mega field in production.
The company collected seismic data that revealed natural gas reserves up to 20 trillion cubic feet, which will make it second to the Zohr mega field in production.
Dana Gas's investments in Egypt reached around $2 billion since 2007, and the company ranks the fifth position in natural gas discoveries.
Egypt has paid an additional $35 million to Dana Gas as a part of its overdue.
Dana Gas has announced receiving arrears equivalent to $20 million in Egyptian pounds from the Egyptian government.
Dana Gas Company announced the completion of the Balsam-8 well drilling in Q4 of 2018, which added over 5,000 barrels of oil equivalent per day (boe/d) to production.
Dana Gas and its partner Crescent Petroleum have announced a 30% increase of the production capacity of the Khor Mor field in Iraqi Kurdistan.
Emirate company Dana Gas has announced receiving $111 million of arrears from the Egyptian Ministry of Petroleum.
Dana Gas has received a payment of $74 million from the Kurdistan Regional Government (KRG) for its share of condensate sales from the region in the first eight months of the year.
Dana Gas will delay making new investments in Egypt's oil and gas sector due to unpaid arrears.
Dana Gas has issued its new Sukuk (Islamic bonds) and it is now listed on Irish Euronext Dublin stock exchange.