Dana Gas ups investments in Egypt
The Middle East's largest private sector natural gas company Dana Gas eyes increasing its petroleum and natural gas investments, now estimated at $1.8 billion, in Egypt.
Petroleum Minister Osama Kamal stated about this following a meeting with Dana Gas Company CEO Rashed Al-Jarwan , Al Ahramonline reported.
Minister Kamal said the talks tackled plans to increase oil production in Upper Egypt at the Al Baraka field, which was discovered in 2007 by Dana Gas on the Kom Ombo Concession and is jointly operated with Sea Dragon Energy.
The two sides discussed the LPG extraction plant project at Ras Shukhier on the Gulf of Suez, a joint venture between Dana Gas and the Egyptian-Bahrain Gas Development Company.
Dana Gas is the sixth largest natural gas producer in Egypt and its total production is expected to reach more than 200 million cubic feet daily within the coming period.
Dana Gas has a 50 percent working interest in the Kom Ombo Concession and a 100 percent interest in three concessions in the Nile Delta.