Tom Cross, Dana's Chief Executive, commented:
"This deal delivers a significant reserves and production growth step for Dana and strategically the acquisition fits closely with our previous Egyptian transactions. The new portfolio contains a good balance of producing oil fields with numerous attractive drilling opportunities, both on existing fields and within large exploration concessions.
"Dana now holds assets positioned across the major petroleum provinces in Egypt, namely the Nile Delta, Gulf of Suez and Western Desert. The Group also has in place an excellent operating team in Egypt, which is focused on delivering further growth."
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