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22

UAE's Dana Petroleum Announced Record Production

The energy company said the average full-year oil and gas production showed 37 pct growth

UAE's Dana Petroleum PLC announced record production in 2007, and said that it is likely to increase it even more in 2008 with the full-year effect of new fields and strategic acquisitions in Norway and Egypt.

The energy company said the average full-year oil and gas production showed 37 pct growth, to a new record high of about 30,500 barrels of oil per day equivalent, and it raised production capacity to 45,000 boepd in 2007.

A total of 17 exploration wells are planned to be drilled in 2008, with rigs for 14 of these wells already secured, Dana said.