Dana Gas to seek third-party financing for Kurdish projects, as it returns to profit - The National

Dana Gas to seek third-party financing for Kurdish projects, as it returns to profit - The National:

"Dana Gas plans to secure third-party financing to fund gas development projects in Iraqi Kurdistan but will refrain from further investment in Egypt pending payments, its chief executive said on Thursday.

The Pearl Consortium, in which Dana Gas and its parent Crescent Petroleum are the largest stakeholders, wants to boost production in Khor Mor and Chemchemal fields by 20 per cent this year and 170 per cent over the next two to three years, Dana Gas said yesterday as part of its full annual results for 2017.

“The amounts of capital expenditure that will be spent at the Pearl Consortium level will either be funded through third-party financing or from the funding pot that has been retained for the purposes of development fund or retained operating cash flow,” Dana Gas chief executive Patrick Allman-Ward said on Thursday."



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