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English news

31-Jul-2019

Dana Gas confirms hiring financial advisors for the sale of its assets in Egypt


Dana Gas has confirmed in a release yesterday that it has hired financial advisors to look into the possible sale of its oil and gas assets in Egypt. The company explained that it intends to focus more on boosting production from its undeveloped assets in Kurdistan region in Iraq (contains more than 90% of the company’s 2P reserves), now that the assets in Egypt have been developed. It is worth noting that the potential sale process is still at an early stage.