(MENAFN- Iraq Business News) By John Lee.
UAE-based Dana Gas is reported to be considering spinning off its upstream business, which would include its 35-percent stake in Pearl Petroleum , which owns the righs to the Khor Mor (pictured) and Chemchemal fields in the Kurdistan Region of Iraq (KRI).
TradeArabia quotes Hamid Jafar, Chairman of Dana Gas, as saying:
"We are studying the feasibility of a demerger as we believe it could be value accretive for our shareholders."
The new company would also be listed on the Abu Dhabi Stock Exchange (ADX).
More here.
(Source: TradeArabia)
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