Dana Gas, MENA’s Fastest-Growing Company of Year (UAE)

 

Dana Gas, the Middle East’s first and largest regional private sector natural gas company, was named the Fastest-Growing Company of the Year in the Middle East and North Africa at the 8th International Business Awards.

The International Business Awards, also known as The Stevie Awards, is the world’s premier business awards competition which last year attracted nominations from more than 40 nations. It was launched in the United States in 2002 and since then has been honoring the achievements and positive contributions of organizations and working people worldwide.

Mr. Ahmed Al Arbeed, CEO of Dana Gas, received the Award during a ceremony, which was for the first time hosted in the Middle East in Abu Dhabi and was held under the patronage of H.E. Sheikha Lubna Al Qassimi, Minister for Foreign Trade, UAE.

Mr. Al-Arbeed expressed his appreciation for the Award and said that Dana Gas’ accolade, as MENA’s Fastest-Growing Company of the Year is evidence that the company has successfully achieved its objectives by developing its technical and human resources for a sustainable future.

Mr. Al-Arbeed added: “We are delighted to obtain such an international recognition, which we consider as an additional incentive for us to keep on strengthening our efforts in achieving our goals. Dana Gas has established a leadership position in the countries where it operates, and this is reflected in the continuous growth of its operations and production, and in the achievement of strong operational and financial results despite the challenges it faced as a result of the political changes taking place in the Middle East.”

He noted that the Company’s revenues jumped in the first half of this year to AED814 million, compared to AED480 million in the same period last year, while net profit doubled during the same period from AED66 million to AED216 million.

Mr. Al-Arbeed added: “We are highly confident that Dana Gas will continue to achieve excellent operating results, fuelled by new discoveries and our expansion in Egypt and in Kurdistan in Iraq. We, in Dana Gas, will continue to work diligently and continuously seek ways to explore various opportunities and implement best practices in everything we do.”

The International Business Awards is the only international, independent, and all-encompassing business awards that is governed by a Board of Top Executives, Association Leaders, Business Press, and Business Academics. The Stevie Award trophy, made by the company that makes the Oscar and other major international awards, is one of the world’s most coveted prizes. Stevies are conferred upon top-scoring nominations in each category, as chosen by an international judging panel of more than 150 business leaders.

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Source: DANAGAS, October 12, 2011