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FINANCIAL NEWS
Dana Gas secures USD100m financing deal
10 Sep 2014
(MENAFN) Dana Gas announced securing a USD100 million financing deal for the Zora Field Development Project , through its wholly owned subsidiary Dana Gas Explorations, Arabian Business reported.
The facility deal is set to help in the financing needed to complete the offshore project and bring the Zora gas field on-stream.
The Zora Gas Field, which spans the territorial waters of Sharjah and Ajman, comprises a tilted fault block structure with a closure of some 25 square kilometers.
“The project work is proceeding as per plan and we remain committed towards bringing the project on-stream in the first half of 2015. Natural gas produced from the field will provide a much needed source of clean energy for the benefit of the Northern Emirates of the UAE.” CEO of Dana Gas said
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