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Dana Gas makes a strong showing at Kurdistan-Erbil
International Fair 2007
4.11.2007
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November 4, 2007
Erbil-Hewler, Kurdistan region 'Iraq',
-- Dana Gas, the Middle East's first and largest
regional, private-sector natural gas company, has
made a strong showing at the Erbil International
Fair 2007, which took place in the capital of the
Kurdistan Region of Iraq from October 29-November 1.
The fair, which is the third in a series of annual
events organized by IFP Iraq, featured over 300
exhibitors from 22 countries.
Dana Gas actively participated in the fair with a
delegation led by the Company's General Manager, Mr.
Rashid Saif Al-Jarwan, presenting the current and
upcoming projects for Dana Gas in Kurdistan. |
Dana Gas, the Middle East's first and largest
regional, private-sector natural gas company |
In April of this year, agreements were signed in
Erbil by His Excellency Nechirvan Barzani, the Prime
Minister of the Kurdistan Regional Government, and
Hamid Dhiya Jafar, Executive Chairman of Dana Gas,
as part of a strategy to advance the considerable
economic benefits available to the region through
the successful development of its substantial gas
resources.
As part of the Strategic Alliance Protocol, the
"Kurdistan Gas City" project was launched - a major
new gas-utilization industrial complex designed to
promote private sector investment in a variety of
gas-related industries for optimal use of the
region's natural gas resources, which will further
benefit the country's citizens through training, job
creation, and the promotion of general economic
activity.
Dana Gas was also appointed to develop, process and
transport natural gas from the Khor Mor gas field,
and to appraise the Chemchemal gas field for
development, in order to provide urgently-needed
natural gas supplies to fuel domestic electrical
power generation plants currently under construction
near Erbil and Sulaimaniyah.
The projects are currently under implementation on a
fast track basis, in partnership with Dana Gas'
partner Crescent Petroleum, and expected to be
completed by early 2008. The first phase joint
investment exceeds US$ 400 million, with a further
$200 million for project expansion targeted in late
2008.
"I am delighted at the participation of Dana Gas in
the third Erbil International Fair, which has given
us an opportunity to present Dana Gas as a long-term
partner of the Kurdistan Regional Government and of
Iraq as a whole," said Mr. Rashid Al-Jarwan, General
Manager of Dana Gas.
"Dana Gas feels privileged to play an important hand
in the advancement of Iraq and to work with the
Kurdistan Regional Government of Iraq in fully
utilizing and developing its natural gas resources.
As a natural gas company from the Middle East region
and for the region, we are able to find and provide
ways of strengthening the national economies through
gas field development, processing and transportation
- all of which are essential components in
developing a strong infrastructure and essential
services for creating a stable and healthy economy
to benefit the people of the Kurdistan Region and
all of Iraq."
Dana Gas is currently active in all aspects of the
rapidly growing natural gas business in several
countries across the Region, with major projects and
operations in the UAE, Egypt and most recently in
the Kurdistan Region of Iraq, as well as new
projects under development in other countries in the
Middle East/North Africa/South Asia.
The Company has just successfully carried out a US$
1 billion Convertible Sukuk Offering of Islamic
Bonds, which was increased twice in size following
strong demand, primarily from international
investors.
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