Under an agreement signed earlier this month, Dana and EGPC will jointly produce oil and gas from the onshore Lorcan development lease in the North Zeit Bay (NZB) concession, which is located about 320 kilometres south-east of Cairo.
The total value of the deal was unclear, but Dana spokesman Andrew McCallum said the UK-based company would invest about $30 million in operations through Petro Kareem in 2012.
Dana
