Dana Gas to invest $43mln in Egypt in 2024

Reuters Images/Mohamed Abd El Ghany

The program targets boosting Dana Gas’ production in Egypt by about 30 million cubic feet of natural gas per day

Staff Writer, Arab Finance

November 29, 2023

PHOTO

Dana Gas will inject investments worth around $43 million into the Egyptian market in 2024, CEO Richard Hall revealed.

The planned investments come as part of the company’s drilling program for next year, under which it plans to drill 11 development wells and three discovery ones.

The program targets boosting Dana Gas’ production in Egypt by about 30 million cubic feet of natural gas per day.

This came during a meeting between Minister of Petroleum and Mineral Resources Tarek El-Molla with Hall and his accompanying delegation to discuss investment opportunities in Egypt.

Hall also stressed his company’s keenness on expanding its business in Egypt and pumping additional private investments in the oil and gas exploration field.

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