Egypt Assets Sale | Egypt Oil & Gas

Dana Gas Wins Arbitration On Sale Of Egypt Assets

The London Court of Arbitration (LCIA) has ruled in favor of Dana Gas against IPR Wastani Petroleum’s arbitration on IPR’s Sale and Purchase Agreement (SPA) for the oil and gas assets in Egypt.

Dana Gas to Sell Egypt Onshore Assets to IPR for $236 MM

Dana Gas and IPR Wastani Petroleum Ltd have entered into a binding agreement for the sale of Dana Gas’s onshore Egyptian producing oil and gas assets valued at $236 million including contingent payments. 

Dana Gas, IPR Negotiate Egypt Assets Sale

Dana Gas is currently in negotiations with IPR Energy about the sale of its Egyptian assets ahead of repayment of about $300 million in debt in October.

Dana Gas to Pay $397 MM of Outstanding Sukuk

Dana Gas’s proceeds from selling its Egypt assets will go towards paying $397 million of outstanding Sukuk.

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