{"id":614973,"date":"2024-02-11T00:00:00","date_gmt":"2024-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/11\/dana-gas-wants-to-reinvest-usd-58-mn-in-egypt-plus-news-from-ades-and-transport-ministry\/"},"modified":"2024-02-11T00:00:00","modified_gmt":"2024-02-11T00:00:00","slug":"dana-gas-wants-to-reinvest-usd-58-mn-in-egypt-plus-news-from-ades-and-transport-ministry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/11\/dana-gas-wants-to-reinvest-usd-58-mn-in-egypt-plus-news-from-ades-and-transport-ministry\/","title":{"rendered":"Dana Gas wants to reinvest USD 58 mn in Egypt. PLUS: News from Ades and Transport Ministry,"},"content":{"rendered":"<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Emirati firm Dana Gas is planning to reinvest USD 58 mn of receivables in <\/strong><strong>Egypt<\/strong> to drill more wells and increase production, the company\u2019s CEO Richard Hall told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1755503806761066819?s=20\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Dana Gas <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/92d64315-b5aa-4c9c-8409-26fbcabc9029\" style=\"\" rel=\"noopener\">said<\/a><\/strong><strong> in November that it plans to invest USD 43 mn in Egypt in 2024<\/strong>, as part of an \u201cintensive\u201d natural gas drilling program. The company said it wants to drill 11 development wells and three exploratory wells in 2024, with the aim of increasing production by some 30 mn cubic feet per day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Ades gets extensions for three local jackup rigs:<\/strong> Egypt-born and Tadawul-listed oil and gas drilling company <a target=\"_blank\" href=\"https:\/\/adesgroup.com\/\" style=\"\" rel=\"noopener\">Ades Holding<\/a> has received extensions for three of its local offshore jackup rigs, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/775.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> last week. It said it expects the extensions for its Admarine III, Admarine VI, and Admarine V contracts to be executed in the coming weeks following the approval of the General Petroleum Corporation (GPC). \u201cThe extensions further solidify the group\u2019s position in the Egyptian market and add visibility to the business with a total estimated backlog of c.SAR 450 mn (USD 120 mn),\u201d it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi German Hospital opens branch in Alexandria:<\/strong> Middle East Healthcare has opened a new Saudi German Hospital in the company\u2019s medical complex in Alexandria \u2014 dubbed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/acc658a1-6080-4de6-828b-1934ef4567ad\" style=\"\" rel=\"noopener\">Batterjee Medical City<\/a> \u2014 the company said in a Tadawul <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/38nsjpzw\" style=\"\" rel=\"noopener\">disclosure<\/a>. The hospital will include 300 beds and 45 specialized clinics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Transport Ministry is on the hunt for a USD 1 bn loan for Cairo Metro Line 4:<\/strong> The Transport Ministry is gearing up for talks with international lenders to obtain a soft loan of USD 1 bn for the construction of Cairo Metro Line 4\u2019s second phase \u2014 which runs from Fustat to New Cairo \u2014 <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4psb5n55\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing sources it says are in the know.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LEGISLATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi ratifies law boosting military role in protecting critical facilities: <\/strong>President Abdel Fattah El Sisi ratified a law increasing the role of the armed forces in protecting critical facilities and infrastructure \u2014 power grids, gas pipelines, oil fields, railways, roads and bridges, according to a decision published in the Official Gazette. The law was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/626a9ff5-5bd0-4509-98f3-dc034a253dc3\" style=\"\" rel=\"noopener\">passed by the House last month<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Emirati firm wants to use the money to drill more wells and increase production<\/p>\n","protected":false},"author":1,"featured_media":614974,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[8369,111,8228,110,72,7115,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-ades-holding","tag-also-on-our-radar","tag-cairo-metro","tag-dana-gas","tag-enterpriseam","tag-healthcare","tag-transport","wpautop","entry"],"acf":{"mongo_id":"aaceb296-3f02-4072-92c4-ecfca857da8f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/805.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dana Gas wants to reinvest USD 58 mn in Egypt","related_issue":[614949],"teaser":"The Emirati firm wants to use the money to drill more wells and increase production","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.3fcf1c4e-3f45-45d8-a1ba-ee0c3a4c9904.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Dana Gas wants to reinvest USD 58 mn in Egypt. 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The investment will only come if Egypt repays Dana Gas some of its receivables, he added, explaining that the money would go towards an ongoing drilling program in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":619735,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/09\/raya-contact-centers-board-greenlights-full-acquisition-of-gulf-cx-plus-oxy-egypts-uae-expansion-new-private-freezone-plans-ras-el-hekma-marina-greenlit\/","url_meta":{"origin":614973,"position":2},"title":"Raya Contact Center\u2019s board greenlights full acquisition of Gulf CX. 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