Sharjah's Dana Gas said payments for its operations from a joint venture in Iraq's Kurdistan region rose 74 per cent in the first half of the year.
The energy producer was paid $80 million (Dh293m) in dividends from Pearl Petroleum, in which it has a 35 per cent stake, Dana Gas said on Monday. Pearl Petroleum, which is majority owned by Dana Gas and its parent Crescent Petroleum, made the payments from the sales of condensate, LPG and gas in the Kurdish region of Iraq.
"Our flourishing partnership will bring about tangible benefits for the region, including the creation of more jobs and greater confidence in its hydrocarbon sector, which will ensure a flow of revenue into much-needed infrastructure," said Patrick Allman-Ward, chief executive of Dana Gas.
On Sunday, Dana Gas said its share of hydrocarbon reserves at Pearl Petroleum’s Khor Mor and Chemchemal fields in the Kurdistan Region of Iraq (KRI) increased by 10 per cent following a new re-certification of reserves.
An independently audited report, prepared by Gaffney Cline Associates (GCA) on behalf of Pearl Petroleum, showed the total share for Dana Gas is now equivalent to 1 billion barrels of oil equivalent, up from 990 million barrels of oil equivalent when GCA first certified the fields in April 2016. The measure is based on proved plus probable hydrocarbons.
Nick's journey in numbers
Countries so far: 85
Flights: 149
Steps: 3.78 million
Calories: 220,000
Floors climbed: 2,000
Donations: GPB37,300
Prostate checks: 5
Blisters: 15
Bumps on the head: 2
Dog bites: 1
Company%20profile
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The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
Killing of Qassem Suleimani
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The%20specs
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Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
MATCH INFO
Europa League semi-final, second leg
Atletico Madrid (1) v Arsenal (1)
Where: Wanda Metropolitano
When: Thursday, kick-off 10.45pm
Live: On BeIN Sports HD