Egypt: Dana Gas asset sales

Issue 426 - 05 Nov 2020

The UAE’s Dana Gas said on 25 October it had agreed to sell its onshore Egyptian producing oil and gas assets to IPR Energy Group subsidiary IPR Wastani Petroleum Ltd for up to $236m. The transaction includes Dana’s 100% working interests in the El Manzala, West El Manzala, West El Qantara and North El Salhiya onshore concessions and associated development leases. In H1 2020, the licences produced 30,950 boe/d and contributed $38m to the company’s EBITDA.

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