Press releases, Reports & Disclosures for DANA GAS PJSC

The text is a formal letter from Dana Gas PJSC, based in Sharjah, U.A.E., dated 1st March 2024. The letter is addressed to the Securities & Commodities Authority and the Abu Dhabi Securities Exchange. It notifies them of the resignation of Mr. Ajit Joshi from his position as a Director of the company, for personal reasons, effective from 29th February 2024. The letter is signed by Omran Al Zamani, the Board Secretary.

Dana Gas, the Middle East's largest private sector natural gas company, has reported a net profit of AED 586 million ($160mm) for FY 2023, down from AED 667 million ($182mm) in FY 2022. The decrease in profits was attributed to lower hydrocarbon prices, despite an increase in production in the Kurdistan Region of Iraq (KRI) and reduced operating costs. Revenue decreased by 20% to AED 1.55 billion ($423mm) in 2023, compared to AED 1.94 billion ($529mm) in 2022. Operational costs decreased by 7% due to prudent cost controls. In 2023, the company's net production in the KRI increased by 8% to 36,900 boepd. Dana Gas also made progress on its KM250 expansion project and expects completion in the second half of 2024. The company has also improved its collections, including past receivables, through a new payment mechanism in the KRI.

On February 7, 2024, Dana Gas PJSC held a board meeting from 11:10 AM to 3:00 PM, with all 11 board members present, achieving a 100% quorum. The board reviewed the company's operations in Egypt, UAE, and Kurdistan Region of Iraq, as well as the preliminary financial results for the year ended December 31, 2023. Other routine matters were also discussed. The meeting's decisions were authorized by Board Secretary Omran Al Zamani on February 8, 2024.

Dana Gas PJSC, a listed company, will hold a meeting on Wednesday, 7th February 2024, starting at 11:00 AM. The agenda includes discussions on the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq. They will also discuss the preliminary financial results for the year ending December 31, 2023, and other routine matters. The board secretary, Omran Al Zamani, is the authorized signatory for this meeting.

Dana Gas (PJSC) has disclosed, as per Article 33 of the Abu Dhabi Stock Exchange Regulations, that a liquid storage tank at their Khor Mor facility in the Kurdistan Region of Iraq was hit by a suspected drone on 25th January. No personnel were injured, but production was briefly halted to extinguish the resulting fire. The company is taking necessary steps to resume operations, which is expected to happen soon.

Dana Gas (PJSC) has announced the resumption of production operations at the Khor Mor facility in the Kurdistan Region of Iraq. The announcement was made in compliance with Article 33 of the Abu Dhabi Stock Exchange's disclosure and transparency regulations.

The Legal and Commercial Director of Dana Gas Company PJSC, Neville Henwood, has issued a statement referencing Article 36/10 of the Disclosure and Transparency Regulations No 3 of 2000. The statement informs the Abu Dhabi Securities Exchange and the Securities & Commodities Authority that, based on records from ADX, Ajman Bank's shareholding in Dana Gas Company PJSC has exceeded 5.0%. The company's contact information is provided, including its location in Sharjah, U.A.E., and its website and email address.