Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, has announced its financial results for the quarter ended 30th September 2010.
In the Kurdistan Region of Iraq, Dana Gas, through its 40% share, produced 1.2 million boe of gas and condensate during the quarter, an increase of approximately 72% over the same period in 2009. The first train of the LPG Plant at Khor Mor is in partial operation, producing gas and condensate. Production of LPG is expected to start within the next few weeks which will further increase production.
Commenting on the quarterly performance, Dana Gas Chief Executive Officer, Mr. Ahmed Al Arbeed, said:
“Dana Gas continues to deliver consistent and strong financial results. Our operations continue to perform in a very satisfactory manner, especially in Egypt and we are proud of our exploration success in the Nile Delta and our continued track record of quickly bringing these fields into production. In the Kurdistan Region of Iraq, during the period we have successfully increased gas production to meet the requirements of the power stations at Erbil and Suleymaniah and the first train of our LPG plant through which we have been producing gas since the middle of the year will shortly be producing LPG.”