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    Dana Gas Mulls Hiking Investment in Egyptian Oil, Gas Sector

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Summary

Dana Gas is planning to increase investment in Egyptian oil and gas sector from the current level of $1.8 billion.

by: Shardul

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Asia/Oceania

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Dana Gas Mulls Hiking Investment in Egyptian Oil, Gas Sector

Dana Gas is planning to increase investment in Egyptian oil and gas sector from the current level of $1.8 billion, Petroleum Minister Osama Kamal said Monday.

Kamal said that the Dana Gas plans to tackle the LPG extraction plant project at Ras Shukhier on the Gulf of Suez, a joint venture between Dana Gas and the Egyptian Bahrain Gas Development Company.

The company also plans to increase oil production in Upper Egypt through Al Baraka field which was lately discovered by Dana Gas on the Kom Ombo Concession, jointly operated with Sea Dragon Energy, the government said in a statement.

Dana is the sixth largest natural gas producer in Egypt and its total production is expected to reach more than 200 million cubic feet daily within the coming period.

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