Arab Finance: UAE-based company Dana Gas is expecting to obtain the Egyptian Parliament’s approval on the gas exploration agreement signed with the Egyptian Natural Gas Holding Company (EGAZ) by the end of the year, the firm’s Investor Relations Head Mohamed Mubaideen told CNBC Arabia.
Under the agreement, Egypt will see the drilling of 11 new wells as well as investments of $100 million within the coming two years, Mubaideen said.
This is in addition to the unification of both firms’ concession areas, he added.