Dana Gas of the United Arab Emirates, the first regional private-sector natural gas company in the Middle East, announced Sunday it will invest more than 500 million U.S. dollars in 2008 in its projects in Iraq, Egypt and the UAE
Dana Gas of the United Arab Emirates, the first regional private-sector natural gas company in the Middle East, announced Sunday it will invest more than 500 million U.S. dollars in 2008 in its projects in Iraq, Egypt and the UAE.
The Sharjah-based Dana Gas, the largest private natural gas company in the Middle East, will channel its 500-million-dollar investments into all sectors of the gas industry, a press release by the company said.
Dana Gas expects the investments to realize the value of its strategic positions in the gas sector in the Kurdish region of Iraq, Egypt and the UAE, and further boost revenues at the next stage of its development.
Dana Gas is currently implementing a major integrated gas project in Iraq's Kurdish region, which is the largest private sector energy project in Iraq involving gas development, production, processing and pipeline construction.
The project is scheduled to start gas production in the middle of 2008 and its production is expected to reach 300 million cubic feet per day by the year-end.
