Dana Petroleum, the cash-strapped Aberdeen-based upstream subsidiary of Korean state firm KNOC, walked away from much of its Egypt acreage last year having written down the value of its assets in the country to zero the year before (MEES 18, December 2020).
Dana on 29 September 2021 handed operator Apache its stakes in two Western Desert concessions that had netted the firm around 4,000 boe/d of 2020 output – 25% of the Qarun concession and 50% of East Beni Suef. US firm Apache, the dominant Western Desert producer (MEES, 4 March), now has 100% of each. (CONTINUED - 518 WORDS)
