Dana Gas PJSC Company News

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Deepwater Egypt Contract Goes to ADES-Vantage JV
Friday, March 08, 2019The Tungsten Explorer drillship. PHOTO SOURCE: Vantage Drilling International

Dana Gas Is Said to Miss Payment on $700 Million Sukuk Today
Tuesday, October 31, 2017A Middle Eastern energy company that has questioned the lawfulness of its own sukuk won't settle the debt owed to investors, according to sources.

Dana Fight With BlackRock to Start Despite UAE Court Order
Tuesday, September 19, 2017A London lawsuit over $700 million in Shariah-compliant bonds issued by Dana Gas PJSC will go ahead despite a last-minute United Arab Emirates court order.

UAE's Dana Gas to Review Egypt Investment If Not Repaid Dues
Wednesday, November 09, 2016Dana Gas will review its 2017 investment plans for Egypt if the North African country doesn't repay the full amount it owes the United Arab Emirates-based energy firm by the end of the year.

Dana Gas CEO Sees 'Bumpy Road' for Oil as Shale Sets Floor
Wednesday, June 01, 2016The oil market is heading for a "bumpy road" with prices close to levels that are profitable for US shale producers, according to Patrick Allman-Ward, CEO of Dana Gas PJSC, which produces natural gas in Egypt and Iraq.

CEO: Dana Gas To Slash Costs And Cut Staff
Tuesday, January 12, 2016Dana Gas aims to slash its head office workforce by 40% and cut admin costs by half between 2015 and early 2016, according to its CEO.

UAE's Dana Gas Extends Earnings Slump; 2Q Profit Plunges 85%
Thursday, August 13, 2015Dana Gas says a sustained slump in oil prices and lower production is to blame as it reports a sharp fall in earnings for a third straight quarter.

BP to Pay Some Exploration Costs for UAE's Dana Gas in Egypt
Tuesday, June 02, 2015Dana Gas signs agreement for BP to pay for part of its exploration costs in the El Matriya onshore concession area in Egypt.

UAE's Dana Gas Blames Oil Prices, Egypt Charge for 4Q Loss
Thursday, February 05, 2015UAE-based energy firm Dana Gas reports a fourth-quarter loss Thursday that the company blames on lower oil prices and a fall in value of its Egyptian oil and gas assets.

Dana Gas to Use $60M Repaid by Egypt for Local Investments, Operations
Monday, February 02, 2015Dana Gas will channel the $60 million repaid by the Egyptian government to the firm for future investment requirements and operational expenses in Egypt.

Dana Gas CEO Says Oil Price Collapse Could Delay Egypt Payments
Wednesday, January 14, 2015The collapse in oil prices may delay the efforts of UAE-based Dana Gas to recover overdue payments from Egypt, say its CEO.

Dana Gas Paid $60M by Egyptian Government
Monday, January 05, 2015Egypt's government pays Dana Gas $60 million of $212 million overdue payments.

Egypt Awards BP Two New Exploration Blocks
Monday, November 10, 2014BP wins two new exploration blocks as a result of Egypt's 2013 EGAS bid round.

Dana Gas Successful in Bids for 2 Onshore Concessions in Nile Delta
Monday, September 29, 2014Dana Gas succeeds in bidding for North El Salhiya (Block 1) and El Matariya (Block 3) onshore concessions in the Nile Delta, Eqypt.

Dana Gas Says To Recover Overdue Egypt Payments By 2018
Wednesday, August 06, 2014UAE firm Dana Gas expects to recover the vast majority of overdue payments from the Egyptian government by 2018.

UAE's Dana Gas Says Wins Right to Some Payments from Iraqi Kurdistan
Sunday, July 13, 2014An arbitration tribunal awards Dana Gas the right to receive some outstanding payments from the Kurdish government.

Dana Proceeds with First Offshore Exploration Block in Egypt
Tuesday, February 18, 2014Dana Gas signs a deal that will see it explore the North El Arish (Block 6) Concession Area, its first block offshore Egypt.

Egypt Signs Oil, Gas Exploration Deals Dana, Edison, Petroceltic
Thursday, February 13, 2014Egypt signs gas and oil exploration deals with Dana Gas, Petroceltic International and Edison.

Adyard Abu Dhabi Wins $17M Deal to Build Offshore Platform for Zora Project
Monday, November 18, 2013Dana Gas awards a $17 million contract to Interserve's subsidiary Adyard Abu Dhabi to fabricate an offshore platform for the Zore field development off Sharjah, United Arab Emirates.

Dana Gas Third-Quarter Net Profit Dips
Monday, November 04, 2013UAE firm Dana Gas sees net profit dip amid delayed payments to its operations in Kurdistan and Egypt.

PM: Egypt Owes Foreign Oil Companies $6B
Thursday, September 12, 2013Egypt says it is close to agreeing a schedule to repay $6 billion in outstanding debt to foreign oil companies.

Dana Gas Appoints New CEO
Tuesday, July 09, 2013UAE-based Dana Gas names Patrick Allman-Ward is its new CEO.

Dana Sees 17% Jump in 1Q 2013 Profit
Tuesday, May 14, 2013Dana Gas reports a 17-percent jump in the first quarter profit as it pre-qualifies for Lebanon's first offshore licensing round.

Dana Inks Deal with Sharjah, Ajman to Develop Offshore Gas Field
Friday, November 23, 2012Dana Gas, an independent energy firm based in the United Arab Emirates, inks agreements with the governments of Sharjah and Ajman to develop an offshore shared gas field.

Dana Gas 3Q Profit Up on Higher Production
Monday, November 14, 2011"Dana Gas continues to deliver strong performance and increases in profits driven by our successful operations, in spite of a globally challenging environment," said Mr. Ahmed Al Arbeed.

Dana Gas Sees 20% Increase in 2010 Production
Tuesday, January 04, 2011Dana Gas has announced that its annual production rate for 2010 increased 20% from last year at its Nile Delta Concessions in Egypt.

Dana Gas, Crescent to Boost Gas Output in Kurdish Iraq by 50%
Tuesday, October 05, 2010Dana Gas-Crescent JV will boost production capacity at its gas project in the Iraq's Kurdistan region by 50% within two years.

Dana Gas Hits Paydirt in Nile Delta
Monday, September 06, 2010The preliminary reserves estimate is in the range of 50 to 90 Bcf of gas, with 1 to 2 million barrels of associated condensate.

Dana Gas Highlights '09 Financial, Operational Results
Monday, April 26, 2010Dana Gas approved the company's activities and financial position for the Financial Year ending Dec. 31, 2009, the Auditors' Report for 2009, as well as the distribution of a dividend payment to shareholders on the basis of a 10% bonus share issue.

Double Success for Dana Gas in Egypt
Monday, March 08, 2010Dana Gas has made two gas discoveries in Egypt, which have added an estimated 35-70 billion cubic feet of gas reserves to the company's base.

Dana Turns on Taps at Egyptian Concession
Monday, March 08, 2010Dana Gas has announced first production from its West Qantara Concession in the Nile Delta from the Sama Field, which was put on stream in February five weeks ahead of schedule.

Dana Gas Boosts Reserves by 40% Exiting 2008
Monday, February 01, 2010Dana Gas reported that for the year ended December 31, 2009, the company increased production by 20%, reserves by 40% and sales revenues by 12%.

Groundstar Enters Egyptian Asset Exchange
Tuesday, January 26, 2010Groundstar Resources has entered into an asset exchange agreement with its partner in two Egyptian blocks.

Sea Dragon Snaps Up 50% Stake in Egyptian Concession
Wednesday, January 13, 2010Sea Dragon has signed a Farm-out Agreement with Dana Gas to acquire a fifty percent participating interest in, as well as jointly operate, the Komombo Concession, which contains the Al-Baraka oil field.

Dana Gas Hits Paydirt in Egyptian Oil Concession
Monday, January 11, 2010Dana Gas announced that the Al Baraka-4 well, drilled as an appraisal of the Al Baraka field in the Komombo Concession in southern Egypt, has discovered 16 meters of net oil pay in the Six Hills "E" reservoir.

Dana Gas Achieves Quarterly Increase in Revenue for 3Q 2009
Monday, November 16, 2009Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, has announced its financial results for the quarter ending September 30, 2009.

Dana Gas Unlocks 86 Billion Cubic Feet of Gas Onshore Egypt
Tuesday, October 13, 2009Dana Gas' two new discoveries, located in the Egyptian Nile Delta, will add a combined pay of 86 billion cubic feet of gas to the company's Egypt reserves.

James Dewar Takes Reins as Dana Gas' CFO
Tuesday, September 15, 2009Dana Gas has appointed James Dewar as Group Chief Financial Officer, effective October 1, 2009.

Dana Gas Cites Significant Growth During Second Quarter
Monday, August 17, 2009"Our numbers speak for themselves to the success of our operations. The second quarter of 2009 was marked by significant events for Dana Gas," said Chief Executive Officer, Mr. Ahmed Al-Arbeed.

Dana Gas' New Discoveries Add 76 Bcf to Egyptian Reserves
Monday, August 03, 2009Dana Gas made two more gas discoveries at its concessions in the Nile Delta, the combined pay of which adds an estimated 76 billion cubic feet to the company's Egyptian reserves.

Dana Strikes Gas at Tulip-1 in Egyptian Nile Delta
Tuesday, May 26, 2009Dana Gas discovered gas in the Nile Delta at its Tulip-1 well, which is set to add up to 30 billion cubic feet of gas to the company's Egyptian reserves.

OMV Boosts E&P Portfolio with Investment in Kurdistan Region
Monday, May 18, 2009OMV has acquired a 10% share in Pearl Petroleum and will participate in the appraisal, development and production of two large gas fields in the Kurdistan Region of Iraq.

Dana Gas Commences Production at Al Basant in Egypt
Monday, April 06, 2009Dana Gas started its first production from the recent gas and condensate Al Basant discovery in the West Manzala Concession in the Nile Delta region of Egypt.

Dana Gas Unlocks Fifth Significant Discovery in Egypt
Monday, February 23, 2009Dana Gas has made its fifth gas discovery in the Nile Delta, which has added 16 million barrels of oil equivalent to the company's Egyptian reserves.

Dana Gas Scores Again, Hits Gas in Egypt's West Manzala
Monday, February 16, 2009Dana Gas has made its second gas discovery of 2009 in the West Manzala Concession in the Nile Delta region of Egypt.

Dana Gas Kicks Off Development at Sharjah Offshore Concession
Tuesday, January 27, 2009Dana Gas is moving ahead with plans for the exploration and development of its Western Offshore concession in Sharjah.

Dana's New Discoveries to Double Egyptian Gas Reserves
Tuesday, January 13, 2009Dana's current drilling campaign in Egypt has led to yet another significant gas and condensate discovery at its Salma-1 well, which is set to add over 200 billion cubic feet of gas.

Dana Gas Strikes Gas, Condensate in Egypt's Nile Delta
Monday, December 29, 2008Dana Gas has announced a significant gas and condensate discovery at its El Basant-2 well in the Nile Delta Concession in Egypt.

Dana Gas Makes Discovery at Al Tawil-1 Well in Egypt
Wednesday, October 15, 2008Dana Gas has announced a gas and condensate discovery in its Egyptian concession, marking the third discovery in the Company's $170 million drilling campaign for 2008.

Dana Gas Eyes First Gas from Northern Iraq in September
Thursday, August 14, 2008Dana Gas will start natural gas production from a gas field in northern Iraq in September and is preparing to drill appraisal wells at a second field next year.