Dana Energy set for giant stride in Iran

 05 February 2010 01:57 GMT

DANA Energy Group is poised to become Iran’s biggest private 
upstream oil and gas developer following the acquisition of state developer Petroiran Development Company (Pedco) in the country’s first big privatisation of a state oil company.

Its top priority will be to commission the offshore Salman Khuff gas project in the next few weeks and complete a second pipeline to Bandar Assaluyeh to give Iran the option of either 
exporting Salman gas to the 
United Arab Emirates or import it for domestic use, Mostafa Khoee, managing director of the group’s Dana Oil unit told 
Upstream.

The $110 million purchase of Pedco, for which a cash payment of $25 million had been made 
in mid-2009 before the Iran 
Privatisation Organisation announced it was reviewing its 
decision because of protests…

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