Dana Gas to Spin Off Iraq Assets?

By John Lee.

UAE-based Dana Gas is reported to be considering spinning off its upstream business, which would include its 35-percent stake in Pearl Petroleum, which owns the righs to the Khor Mor (pictured) and Chemchemal fields in the Kurdistan Region of Iraq (KRI).

TradeArabia quotes Hamid Jafar, Chairman of Dana Gas, as saying:

"We are studying the feasibility of a demerger as we believe it could be value accretive for our shareholders."

The new company would also be listed on the Abu Dhabi Stock Exchange (ADX).

More here.

(Source: TradeArabia)


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