Egypt: Dana Company Investments Estimated At $1.8 Billion

The Dana Gas Company mulls increasing its petroleum and natural gas investments in Egypt, now estimated at $1.8 billion, within the coming period especially after its latest successes in both domains, Petroleum Minister Osama Kamal said on Monday 12/2/2013.

Kamal, after a meeting with Dana Gas Company CEO Rashed al-Jarwan, said that talks tackled plans to increase oil production in Upper Egypt through Al Baraka field which was lately discovered by Dana Gas on the Kom Ombo Concession, jointly operated with Sea Dragon Energy. Since it became operational in 2007 and till 2012, the oil field's total production reached 715,000 barrels.

The two sides also tackled 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.

Jarwan said the company is keen to increase investments in Egypt, a main hub for Dana Gas operations in the Arab region.

He said the company is considered 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.

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