UAE-based Dana Gas says newly agreed fiscal terms for its mature onshore Nile Delta assets in Egypt will be a “win-win” after quietly ditching a call for compensation over the termination of its offshore North El Arish license (MEES, 10 February).
The deal will see Dana consolidate its three onshore Nile Delta concessions, which include 13 development leases, in order to “unlock the remaining potential of its concessions,” which “will allow the Company to make meaningful investments in the future and re-start its drilling activities, which will have a positive impact on the Company’s production in Egypt.” (CONTINUED - 478 WORDS)
