AMOC to buy condensates from Dana Gas
Alexandria Mineral Oils Company (AMOC) has reached an agreement to buy condensates produced by Dana Gas, according to Al Shorouk. The agreement will be signed within a week, AMOC’s head said. AMOC aims to refine 1,500 boe a day of Dana Gas’ condensates in its refineries for two months, increasing the amount to 4,000 boe […]
Dana Gas to restructure debt bond due in October
• Energy company asks creditors to discuss $700 million of debt. • Dana Gas cites difficulty collecting payments in Egypt, Iraq. Dana Gas PJSC will ask bondholders to accept changed terms on $700 million of debt coming due in October as the energy producer based in the United Arab Emirates seeks to restructure debt for […]
Dana Gas makes first Egypt gas condensate sale as arrears continue to mount
Dana Gas PJSC, the Middle East’s largest regional natural gas company, has today achieved an important milestone with the first international sale of condensate in Egypt under the Gas Production Enhancement Agreement (GPEA). The first cargo is approximately 150,000 barrels of Wastani condensate and was loaded on 15 April 2017. The buyer has issued a […]
Dana Gas: Egypt owes company $265 million
Dana Gas announced that the Kurdistan Regional Government (KRG) owes $713 million for investment in the Kurdistan Region, while Egypt owes the company $265 million. Dana Gas CEO Patrick Allman-Ward said during an interview with al-Arabiya channel the KRG and the government of Egypt owe one billion dollars for investments in the countries. The Dana […]
Minister of Petroleum meets with Dana Gas management
The Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla, met with Dana Gas’ Technical Director and General Manager for Egypt, Mrs. Iman Hill. During the meeting, they reviewed that the company’s plans for its joint venture El Wastani Petroleum Company (WASCO) to drill new wells to be added to production. The attendees also […]
Dana Gas provides market update on its Egyptian drilling program
Dana Gas, the Middle East’s leading regional private sector natural gas company, provides a market update on its BP-operated Mocha-1 well, drilled in the El Matariya (Block 3) onshore concession in Egypt. The Mocha-1 exploration well on Block 3 has been completed. The well reached the top of the targeted Oligocene at a depth of […]
UAE's Dana Gas freezes Egypt investments over debts
Dana Gas will not make new investments in Egypt because of delays in obtaining payments owed to it there, the chief executive of the United Arab Emirates company said. Political and economic turbulence in Egypt and Iraqi Kurdistan mean Dana Gas has struggled to secure revenues in either country, once again hitting its profit on […]
Dana Gas plans raising Wastani gas daily production to 235 million cubic feet
Emirati-based Dana Gas targets raising production capacity of its local partner in Egypt, El Wastani Petroleum Company (WASCO), to 235 million cubic feet of natural gas and 8,200 barrels of condensates daily. The current production of WASCO is estimated at 195 million cubic feet of natural gas and 6,200 barrels of condensates per day. The […]
Oil Minister meets with Dana Gas executives to discuss expansions
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. (Source: Enterprise.press)
Oil Ministry owes 70% of its arrears to five international oil companies
The Oil Ministry owes 70% of its arrears to five international oil companies (IOCs), unnamed sources at the ministry told Al Mal. The companies are BP, Shell, Eni, Apache, and Dana Gas, who together are owed over USD 2.5 bn out of total of USD 3.7 bn the ministry owes the industry. BP is owed […]
