MEES learns that Egyptian independent Cheiron is the frontrunner for UAE-based Dana Gas’ Egypt acreage, which was officially put on sale for $500mn in July last year (MEES, 2 August 2019). Dana’s decision to sell-up was precipitated following the flop of its Merak prospect, located in the country’s Mediterranean offshore, north of the Sinai Peninsula, just 10km from the border with Gaza.
Dana is looking to focus on its key gas assets in Iraqi Kurdistan where it partners key shareholder Crescent Petroleum (MEES, 17 January). (CONTINUED - 386 WORDS)
