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Dana Gas responds to a Kurdish official about her contract with the region Time: 02/08/2021 00:07:15 Read: 3,497 times {International: Al Furat News} The UAE Dana Gas Company responded to the statements of the Chairman of the Natural Resources Committee in the Parliament of the Kurdistan Region, Ali Hama Salih, indicating that it had a contract with the Kurdistan Region under the name "Petroleum Development Agreement", and it was approved by an international court. Ali Hama Salih said in a previous statement on Sunday that "according to the Ministry of Natural Resources data, the Kurdistan region has 200 trillion cubic feet of natural gas, and if compared to its population, it is the first in the world in terms of natural gas waste." Dana Gas said in its response that "the Kurdistan region is not in the eighth sequence in the world, nor even in the 30th sequence." According to Dana Gas, according to the contract concluded with the Kurdistan region, the company invested more than two billion dollars, "and if it was a draft contract only and did not include appropriate legal obligations, the company would not have had to do so." According to Ali Hama Salih, the Kurdistan region “did not return any natural gas revenues to the public treasury,” while Dana Gas won about two trillion and 237 billion dinars from the court due to “errors in gas contracts.” The company said, "Ali Hama Saleh may mean 2.2 billion, not trillions, which is incorrect and misleading to a large extent." Free gas and its supplies to power plants in the Kurdistan region. Dana Gas added that "liquid gas prices are still below international standards," indicating that "liquid gas is determined by a clear and transparent bidding process by the liquid gas companies, and it is still less than international standards." The company pointed out that it now provides 80 percent of the electricity in the Kurdistan region. In another part of his speech, a member of the Finance Committee in the Kurdistan Parliament said, "Investing in natural gas is not that difficult, but exports and marketing are difficult." According to Danagaz, production and investment in natural gas are "much more dangerous than the oil project" and that the companies that came to the Kurdistan region were busy with oil production. It is noteworthy that Dana Gas is the largest private company for producing natural gas in the Middle East. Ammar Al-Masoudi -
The announcement of record gas production in Iraq rises in "Dana Gas" 1% Dana Gas logo 25 November 2020 10:50 AM Dana Gas DANA 0.45%0.680.00 Abu Dhabi - Mubasher: The share of Dana Gas rose during trading session today, Wednesday, after the disclosure of a new record level in the production of the Khor Mor field in Iraq. At 11.42 am UAE time, the share price rose by 1.04 percent, to about 0.680 dirhams. The stock was traded at a volume of 4.74 million shares, achieving liquidity of 3.23 million dirhams, through the implementation of 102 transactions. This morning, the company announced a record rate of gas production from the Khormore gas processing plant in the Iraqi Kurdistan region of the Pearl Petroleum Corporation consortium, at a rate of 418 million standard cubic feet per day on the date of last Wednesday, which coincided with November 18 of this year. Dana Gas recorded a year-on-year increase in its production rate in the Kurdistan Region of Iraq during the third quarter of 2020, by 6 percent, to reach 32,400 barrels of oil equivalent per day. At that time, the general index of the Abu Dhabi Securities Exchange rose by 0.39 percent, to the level of 4966.64 points. The total volume of shares traded in the meantime was 54.84 million shares, with a total trading value of 224 million dirhams. It is noteworthy that Dana Gas incurred losses of 1.39 billion dirhams at the end of the first nine months of 2020 , compared to achieving profits of 521 million dirhams during the same period in 2019 .
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To expand production in Kurdistan, Dana Gas sells two oil and gas fields in Egypt 2020-10-26 02:25 Shafaq News / "Dana Gas" agreed to sell its oil and gas fields in Egypt for an amount of $ 236 million, which would enable it to pay off the debts associated with the Islamic bonds that mature this month and to expand its production in the Kurdistan region. The UAE-based company said it would receive $ 153 million in cash and up to $ 83 million in emergency payment for sale to IPR Energy Group . ". Dana Gas had targeted the completion of the sale in the first quarter of the year to collect the necessary liquidity to pay the sukuk due at the end of this month, the sale was postponed due to the Corona virus. CEO Patrick Allman said in the statement that the Egyptian deal allows Dana Gas to focus on expanding production in the Kurdish region in northern Iraq, thus Iraq will become the company's main area of operations. And "Dana Gas" is the largest and first regional private sector company operating in the field of natural gas in the Middle East region. It was established in 2005 by 300 prominent founders from across the Gulf Cooperation Council countries, and the company's shares were listed on the Abu Dhabi Stock Exchange. It is headquartered in the Emirate of Sharjah, United Arab Emirates, and has a network of offices in the Kingdom of Saudi Arabia, the Kurdistan Region of Iraq, Egypt and the United Kingdom. The company produces the equivalent of 65,000 barrels of oil equivalent per day of oil, gas and natural gas liquids from its operations in Egypt and the Kurdistan Region of Iraq.
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The International Court of Arbitration obliges the Kurdistan Region to pay 85% of the arbitration costs to Pearl Petroleum Economy News Baghdad: Dana Gas (DANA), listed on the Abu Dhabi Financial Market, said the London International Court of Arbitration had ordered the Kurdistan Regional Government to charge $ 14.05 million for legal costs incurred by Dana Gas and its partners in the Pearl Petroleum consortium. The company added in its statement on the market site, to oblige the Kurdistan government to bear 85% of the arbitration fees due to the Court of London in addition to the court fees and expenses until the date of 27 November 2015 worth 403.1 thousand pounds sterling. Dana Gas and its partners are seeking compensation of at least $ 26.5 billion from the Iraqi Kurdistan government because of delays in oil and gas projects. In May, Dana Gas and its partners filed a petition with the Federal Court in Washington over the dispute over the Pearl Petroleum project. The London court ruled in February that the Kurdistan Regional Government had also blocked the development of Pearl Petroleum in the fields in the region. A previous survey prepared by Mubasher that the company's receivables with the Iraqi Kurdistan government is still large by about 712 million dollars, as at the end of the first quarter of this year. Views 15 Date Added 02/08/2017
