Oil Minister meets with Dana Gas execs to discuss expansions - ENTERPRISE / AL SHOROUK

Monday, 16 January 2017

Oil Minister Tarek El Molla met with Dana Gas Technical Director Iman Hill to discuss future expansions, Al Shorouk reported.

Dana Gas is planning to increase production from the Balsam field by 40 mcf/d through its JV El Wastani Petroleum by drilling two additional production wells in 2H2017.

Interview of Dana Gas CEO Dr Patrick Allman-Ward in ARABIAN BUSINESS on 14.1.2017

Tapping into new revenue streams - DAILY NEWS EGYPT

Patrick Allman-Ward, CEO, Dana Gas

Regional giant Dana Gas will commit millions to E&P in the next three years

February 18, 2016

To say the last 12 months have been hard on the hydrocarbons business undersells understatement. The price of a barrel of Brent, which already plummeted from over $100 to under $50 before the end of 2014, has continued to fall throughout the year, languishing at less than $40 as 2015 drew to an end. Natural gas fared little better, with the Million British Thermal Unit (mmBTU) value dropping to less than half its December 2014 peak by November 2015, although prices rallied in the last fortnight of the year.

Despite the state of global energy markets, Dana Gas, the Middle East’s leading privately owned gas company has faith enough in Egypt and the Al-Sisi administration to commit millions in exploration and production (E&P) in the country. Dana is based in the United Arab Emirates, but hasassets in Egypt and the Kurdistan Region of Iraq. Via its subsidiary, Dana Gas Egypt, it holds 100% E&P and development rights on fields in the Nile Delta and has a minority share in an LPG plant on the Gulf of Suez.

Dana Gas to cut costs and jobs by half at Head Office, will continue to invest in Egypt | Energy Egypt

JANUARY 13, 2016 / ENERGY EGYPT

Dana GasAbu Dhabi-listed Dana Gas aims to slash its head office workforce by 40 percent and cut general and administrative costs by half between 2015 and early 2016, its chief executive said on Tuesday.

The energy company will continue to invest in Egypt and sees its production in the country increasing, Patrick Allman-Ward told reporters on the sidelines of a conference in Abu Dhabi.

Dana produces 34,000 barrels per day of oil equivalent in Egypt, Allman-Ward said, adding its Balsam field in the Nile delta came on stream in late 2015.

The company has operations Egypt, the United Arab Emirates and Iraq’s Kurdistan region.

(Source: Reuters)

SOURCE