Dana Gas

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Dana Gas PJSC
Native name
دانة غاز
Public
Traded as ADXDANA
Industry Oil & Gas
Founded 2005; 12 years ago (2005) in Sharjah, Emirate of Sharjah, United Arab Emirates
Headquarters Sharjah, United Arab Emirates
Areas served
UAE,[1]
Egypt,[1]
Iraq.[1]
Key people
Adel Al Sabeeh[2]
(Chairman)
Patrick Allman-Ward (CEO)
Increase 528 millionد.إ AED[3]
Total equity Increase1.7 billionد.إ AED[3]
Parent Crescent Petroleum (20.01%)[4]
Subsidiaries Pearl Petroleum[1]
Website www.danagas.com

Dana Gas is an independent gas company headquartered in Sharjah, United Arab Emirates. The largest private shareholder in Dana Gas is Crescent Petroleum.[5] Dana Gas was established in December 2005 with a public listing on the Abu Dhabi Securities Exchange (ADX). Dana Gas has exploration and production assets in Egypt, Kurdistan Region of Iraq (KRI) and UAE, with an average production output of 63,900 boepd, in 2015.

In May 2009, Dana Gas and Crescent Petroleum signed an agreement with MOL and OMV, shareholders of the Nabucco pipeline project, for a strategic partnership in developing gas fields in Iraq's Kurdistan.[6]

On 10 July 2013, Dana Gas, has appointed Patrick Allman-Ward as its new CEO, replacing interim CEO Rashid Saif Al-Jarwan, the appointment will be effective from September 2013.

Also in July 2013, the firm announced it had made a significant discovery at an onshore test well in Egypt,[7] as well as announcing it had achieved record production of 39,000 barrels per day in the country.[8]

Controversy[edit]

In January 2013, unsubstantiated allegations were made against Dana Gas that its operations were responsible for the flooding and destruction of the Upper Egyptian village of Fares, near Kom Ombo. It was claimed that flooding in the village was caused by the drilling (fracking) by Dana Gas.[9]

An independent investigation was conducted by D'Appolonia S.p.A of the allegations and the findings report was completed in early 2016. The conclusion of the report states: "There is no evidence that Dana Gas could have either introduced more surface water to the existing system, or significantly altered the drainage of such surface waters. Based on the data, it can be concluded that the Dana Gas activities neither directly nor indirectly caused the alleged flooding in Fares Village".[10]

References[edit]