| Dana Gas to expand Egypt operations
Posted: 21 May 2007
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Dana Gas has announced its intention to expand its gas operations and investments in Egypt 's growing natural gas industry.
"Dana Gas is proud to be a major gas producer in Egypt , and is firmly committed to expanding its operations and investments in the growing Egyptian natural gas sector," said Rashid Saif Al-Jarwan, General Manager of Dana Gas, speaking at the Intergas IV Conference in Cairo .
"Through wise leadership and good energy policies, Egypt has doubled its natural gas reserves in the last five years to over 70 trillion cubic feet, and now produces more gas than oil and is already among the world's top ten exporters of LNG."
There are currently 64 companies active in Egypt 's oil and gas sector.
Dana Gas, listed on the Abu Dhabi Stock Market, is currently the 6th highest gas producer in Egypt , and the 9th highest oil and gas producer in terms of barrels of oil equivalent (boe), through the activities of its exploration and production division, Centurion Energy. Dana Gas also benefits from exploration potential of 26,300 square kilometres in the Nile Delta and Southern Egypt , and has been approached by several of the major international energy companies for potential collaboration in this area. Last month Dana Gas signed a farm-out agreement with Kuwait International Oil and Environment Company (KIOEC), to participate with a fifty percent working interest in the Komombo Concession in Southern Egypt .
In the area of gas processing, Dana Gas is commissioning the El Wastani LPG plant, which will boost the revenues from its gas production, and is also leading the development of the Gulf of Suez Gas Liquids Plant, in partnership with the Egyptian Natural Gas Holding Company (EGAS) and the Arab Petroleum Investment Corporation (APICORP).
Dana Gas is in joint venture partnership with the Emirates General Petroleum Corporation (Emarat) to build, own and operate a 30 km, 48 inch, common-user gas pipeline in the UAE from the Sharjah gas hub at Sajaa to the Hamriyah Free Zone (HFZ), with a capacity of one billion cubic feet per day, to serve power plants of the Federal Electricity and Water Authority of the UAE (FEWA), the Sharjah Electricity and Water Authority (SEWA), and industrial customers in the Hamriyah Free Zone (HFZ). The implementation of the project has made good progress and is on schedule for completion by end September of this year. |
