Dana GasDana Gas, the Middle East's first and largest regional private-sector natural gas company, has been designated "UAE Company of the Year" as part of ACQ Magazine's First Annual Country Awards for Achievement.

The award comes in recognition of Dana GasDana Gas' aggressive growth strategy, which came to light following its acquisition of Centurion EnergyCenturion Energy at the beginning of 2007, and the company's subsequent expansion into the upstream gas sector with its projects in the Kurdistan region of Iraq.

Dana GasDana Gas General Manager Rashid Al Jarwan said this award was a testament to the achievements of Dana GasDana Gas in a period of less than two years of operations.

"We thank ACQ magazine for its recognition of Dana GasDana Gas' achievements and its rapid progress since the company acquired Centurion EnergyCenturion Energy - now Dana GasDana Gas Egypt - and the many opportunities that this deal created for Dana GasDana Gas," Al Jarwan said. "It is a clear indication that experts and industry observers alike have seen the impact of such a strategic opportunity on the company's direction, and the ability of the directors and the management to fortify the unique position of Dana GasDana Gas as a company from the region, by the region and for the region."

ACQ magazine's Editor, Charlotte Abbott, explained the mechanism behind the selection criteria for the awards.

"We submitted the categories to an independent panel and to other companies that have contributed to the magazine in past editions," said Charlotte. "They voted on those deals that the magazine has reported on, choosing those which they believed stood out from the crowd in the last 12 months."

ACQ magazine is a specialized business publication that focuses on news of major deals, launches and partnerships, new financing options, innovative legal structures, region-specific reviews, and other topics related to the world of mergers and acquisitions (M&A). Its readership of approximately 20,000 comprises Europe's leading corporate finance professionals.

Dana GasDana Gas currently has operations in the UAE, Egypt and Iraq, with investments exceeding US$500 million across the region in 2008. In addition to its existing and upcoming UAE projects, and its current oil and gas operations in the Nile Delta and Upper Egypt, the company is undertaking an aggressive US$170 million drilling campaign in Egypt. Dana GasDana Gas has also achieved over 90% completion on its joint venture project with Crescent PetroleumCrescent Petroleum to produce and transport natural gas from the Khor Mor field in the Kurdistan region of Iraq, and was recently awarded a 461 million square foot site to develop the Kurdistan Gas City.

- Ends -

About Dana Gas
Dana GasDana Gas (PJSC) is the first regional private-sector natural gas company in the Middle East, established with over 300 reputable founder shareholders from across the Gulf Cooperation Council (GCC) region, and some 300,000 investors from over 100 nationalities worldwide who submitted applications of over US$78 billion over ten days in the company's regional IPO in late 2005.

Headquartered in Sharjah in the UAE and listed on the Abu Dhabi Stock Market (ADSM), Dana GasDana Gas already possesses a network of offices in Saudi Arabia, Kurdistan Region - Iraq, Egypt, the UK, and Canada, with further offices opening throughout the Middle East. Dana GasDana Gas currently has assets and projects in gas exploration and production, processing, transportation and marketing in several countries, and aims to play a major role in the rapidly-growing natural gas business throughout the Middle East, North Africa and South Asia (MENASA) Region across the entire gas value chain.

In addition to its current projects, Dana GasDana Gas will be expanding its activities in all elements of the natural gas value-chain, including upstream exploration and production; through the midstream transmission and distribution of gas including LNG trading; and downstream into gas-related industries and petrochemicals. www.danagas.ae

For more information, please contact:
Wajih Halawa
SAHARA Communications
Tel: +971-4-329 8996 / +971-50-240 3357
Email: wajih@saharagcc.com

© Press Release 2008

 

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