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Dana Gas Says Egypt Operations Were ‘Uninterrupted’ by Turmoil

Feb. 19 (Bloomberg) -- Dana Gas PJSC, a fuel producer with most of its output coming from Egypt, said production levels were sustained during the weeks of protest in Egypt and after the toppling of former President Hosni Mubarak.

The company’s operations, located in the Nile Delta and southern Egypt, are far from urban centers where most of the demonstrations took place, Dana Gas said in an e-mailed statement today.

“We continue along the path of growth projected for the year,” Hany Elsharkawi, president of Dana Gas Egypt, said in the release. “2011 promises to be yet another busy year for us in Egypt, where we will continue to raise our production levels, in addition to continuing our aggressive exploration-drilling program in the Nile Delta and Southern Egypt.”

Mubarak, Egypt’s ruler for 30 years, ceded power to the military on Feb. 11 as a popular revolt swept the Arab world’s most populous state. Since Feb. 13, Egypt has been governed by a military council that has promised to lead the country through a democratic transformation.

Dana Gas is developing deposits, production and transportation facilities in Egypt. The company’s daily current production in Egypt is more than 45,000 barrels of oil equivalent. The company is planning a gas-processing plant to process 120 million standard cubic feet a day in the Nile Delta where the company continues its exploration, according to the statement.

To contact the reporter on this story: Zainab Fattah in Dubai at zfattah@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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