75% of Dana Gas' production is natural gas at fixed prices

These gas sales account for approximately half of the Company's income, leading to sustainable revenues even in low oil price environments

  

Sharjah, UAE: Currently, natural gas constitutes 75% of the Company’s production which is sold under long term gas sale contracts with host Governments at prices which are unaffected by falling oil prices. These gas sales account for approximately half of the Company’s income, leading to sustainable revenues even in low oil price environments.

Patrick Allman-Ward, CEO of Dana Gas said: “Since half of our income is protected in low oil price environments, we are competitive and opportunistic at the current environment. We are obviously monitoring the market closely and responding accordingly. The Company already has an excellent track record of cost control and we will obviously be looking at identifying potential areas for further cost reductions should the low oil price environment persist. In the meantime, the Company will continue implementation of its planned projects in the KRI which will lead to significant growth in both production and revenues in the years to come.”

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