Dana Gas, the Middle East's first regional private-sector natural gas company, has officially inaugurated its new office in the Saudi Arabian city of Al Khobar. The ceremony was attended by the Executive Chairman and several Board Members of the company, in addition to major founders and investors from the Kingdom and other local dignitaries. Dana Gas also sponsored the World Energy Cities Partnership (WECP) and participated and exhibited at the Saudi Energy Forum, both held last week in Dammam.
In expressing the pride at the opening of the new premises, Dana Gas's General Manager, Mr. Rashid Saif Al Jarwan, spoke of the special relationship his firm already has with the Kingdom: "Dana Gas is proud to have a strong affiliation with Saudi Arabia since the company's establishment, and we consider ourselves a local company already. Almost half of the original 12 founders of our firm hail from the Kingdom, and its list of founders include many prominent Saudi individuals, institutions and companies."
He added: "The Kingdom is undergoing momentous growth and economic development in its energy sector and in particular the natural gas sector and related industries, and our goal is to play a major role in this process. The wise policy of the leadership to encourage the private sector and particularly the public participation of Saudi nationals is a vision we fully believe in, and we will be active inshallah in developing projects and opportunities that serve the Kingdom's needs in these areas for the benefit of the national economy and local communities. The Saudi offices will be staffed by local professionals who will be working hard to meet these objectives."
Dana Gas, listed on the Abu Dhabi Stock Market (ADSM), has 25% of its shares owned by Saudi nationals, who also account for 40% of the average shares traded. Three prominent Saudi business-men are members of the company's Board of Directors: Sheikh Khalid Abdulrahman Al-Rajhi, Sheikh Adib Abdullah Al-Zamil, and Sheikh Abdulaziz Hamad Al-Jomaih.. Several Saudi banks, financial institutions and business groups are among the major investors of the company.
Dana Gas, headquartered in Sharjah in the UAE, has announced plans to open a network of offices across the Gulf Region and the wider Middle East, to enhance its business development activities in the pursuit of new projects.
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© Press Release 2006
