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Dana Gas to sell onshore Egypt assets
Dana Gas has entered into a binding agreement with IPR Wastani Petroleum, a member of the IPR Energy Group, for the sale of its onshore Egyptian producing oil and gas assets for $236mn including contingent payments. IPR is a leading private E&P operator in Egypt, with nine active concessions.
The deal covers Dana Gas’ 100% operated working interests in the El Manzala, West El Manzala, West El Qantara and North El Salhiya onshore concessions and associated development leases in Egypt.
The sale is in line with Dana Gas’ strategic goals of strengthening its balance sheet and focusing on the development of its assets in the Kurdistan Region of Iraq (KRI).
News Item details
Journal title: Petroleum Review
Countries: Egypt -
Subjects: Oil and gas, Exploration and production
