Sharjah-based Dana Gas, the Middle East’s largest private gas firm, intends to embark on an intensive oil well drilling programme in Egypt within plans to expand its operations in the Arab country, its CEO has said.

Richard Hall revealed the plan during a meeting with Egypt’s Petroleum and Mineral Resources Minister Tariq Al-Mulla in Cairo on Thursday.

“Hall briefed the Minister on Dan Gas’s investment plans in Egypt…he said such plans include an intensive oil well drilling programme, which he expected to largely boost the Company’s production in Egypt,” the Arabic language daily Addustour said.

In press comments last month, Dana Gas Investor Relations Manager Mohammed Mubideen said the firm has assets of $200-300 million in Egypt and has plans to invest a further $80-100 million, adding that they comprise the drilling of 11 new oil wells.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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