UAE’s Dana Gas plans to invest $43mln in Egypt by 2024

The UAE-based Dana Gas Company plans to invest about $43 million to implement an intensive drilling programme in Egypt during 2024, according to a statement published on Wednesday by Egypt’s Ministry of Petroleum and Mineral Resources.

The programme targets boosting Dana Gas’ production in Egypt by about 30 million cubic feet of natural gas per day and confronting the natural attrition of wells, said the company’s CEO Richard Hall.

Hall’s remarks came during a meeting with Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla to explore avenues for enhancing bilateral relations, the statement added.