The company’s average production in H1 2019 was 68,200 barrels of oil equivalent per day.
Dana Gas on Tuesday announced it has commenced drilling operations yesterday at its Dana Gas begins drilling at Merak-1 well, offshore Egypt. The location is in 755 metres of water in the North El Arish concession, also known as Block 6. This block is in the Eastern Mediterranean
Dana Gas has robust operations and cash flows since a large part of the company’s revenue comes from long-term gas contracts rather than oil, whose price is largely uncorrelated to oil.
Dana Gas has announced that natural gas currently constitutes 75 per cent of the company’s production, which is sold under long term gas sale contracts with host governments at prices which are unaffected by falling oil prices.
Lee Kun-hee, South Korea’s richest person and chairman of Samsung Electronics Co, died on Sunday, leaving behind considerable assets subject to be potentially inherited by his surviving family as well as inheritance tax.
Commercial Bank of Dubai, one of the leading financial institutions in the UAE, entered into a partnership with Al Fardan Exchange, the leading exchange house in the UAE, to be a channel partner for issuing and topping-up
Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade - following his appointment as new Deputy Chairman of the Board of Directors of Etihad Credit Insurance (ECI) - visited ECI’s branch in Dubai.