UAE-based independent Dana Gas has reversed plans to offload the North El Arish exploration block on the maritime border with Israel (and Gaza) in the Egyptian Mediterranean.
The decision, announced by CEO Patrick Allman Ward on his firm’s 17 August earnings call, may or may not be linked to the UAE’s decision the previous week to establish diplomatic relations with Israel. But, with the key Thuraya target actually on (and possibly overlapping) the border, a peace deal would surely make development of any discovery less geopolitically complex. (CONTINUED - 339 WORDS)
