Middle East

In Brief

Dana share of KRI sales up

SHARJAH: Dana Gas, a leading natural gas company, said that its share of Pearl Petroleum’s collections from the sale of condensate, LPG and gas in the Kurdistan Region of Iraq (KRI) rose 74per cent in the first half of 2019.

Dana Gas, which owns a 35 per cent stake in Pearl Petroleum, saw its share of the collections increase to $80.0 million in the first half of the year compared to $46 million in the first half of 2018.

Dr Patrick Allman-Ward, CEO, Dana Gas, said: "We are thankful for the Kurdistan Regional Government’s prompt payment of receivables. Our flourishing partnership will bring about tangible benefits for the region, including the creation of more jobs and greater confidence in its hydrocarbon sector, which will ensure a flow of revenue into much-needed infrastructure."

Maridive wins India order

CAIRO: A unit of Egypt’s Maridive and Oil Services has signed a new construction contract worth $160 million in India, it has been revealed.

Maridive’s Valentine Maritime will deliver engineering, procurement, installation, and commissioning services for several pipelines on a turnkey basis, according to a statement to the Egyptian Exchange (EGX) said a Mubasher report.

"With this contract secured, Maridive’s backlog for the period 2019-2021 now stands at $410 million," the statement added.

QP enters exploration deal

DOHA: Qatar Petroleum has entered into an agreement with Italian oil major Eni and French energy giant Total to enter three exploration blocks in Kenya.

Following such approval, the partners comprising the consortium will consist of affiliates of each of Eni (the operator) with a 41.25 per cent participating interest, Total with a 33.75 per cent participating interest, and Qatar Petroleum with a 25 per cent participating interest.