Dana Gas expects onshore Egyptian assets sale to complete early 2021

Dana Gas expects onshore Egyptian assets sale to complete early 2021

DUBAI - United Arab Emirates' Dana Gas said on Thursday it expects in early 2021 to complete the sale of its onshore Egyptian oil and gas assets to IPR Wastani Petroleum Ltd, a member of the IPR Energy Group.The energy producer - whose main assets are in Egypt and in the Kurdistan Region of Iraq - re-stated that the sale would be for $236 million."The sale of the mature onshore Egyptian assets forms a key part of our strategy which allows us to strengthen our balance sheet and focus our attention on the development of our growth opportunities in our Egypt exploration blocks and our world-class assets in the Kurdistan region of Iraq," said CEO Patrick Allman-Ward on a conference call with media.It announced at the end of October that