Acquisition of strategically important assets in new and growing gas markets is an important part of Dana Gas’ objectives. Consistent with the Company’s strategy for business growth, during 2006 Dana Gas pursued several business development activities, which included securing strategic positions in existing projects, entering into strategic alliances and developing new opportunities. These included:

• UGTC entered into an agreement with Emirates General Petroleum Corporation (Emarat) to build, own and operate a 30 km, 48 inch, common-user gas pipeline from the Northern Emirates gas hub at Sajaa to the Hamriyah Free Zone. The gas pipeline has a design capacity of one billion standard cubic feet of gas per day (1,000MMscfd).
• Dana Gas entered into an agreement on 30 September 2006 to acquire a controlling interest in a Bahrain registered company, named Dana Gaz (Bahrain), subject to the fulfillment of certain conditions. Dana Gaz plans to develop a project to build, own and operate the Gulf of Suez Gas Liquids Plant in Egypt. The project involves the engineering, fabrication, installation and operation of a high-efficiency gas liquids extraction and manufacturing plant on the western shore of the Gulf of Suez.
• Dana Gas entered into a co-operation agreement with Single Buoy Moorings (the world leader in providing offshore floating solutions for the oil and gas industry) in October 2006 to develop a network of LNG terminals, initially in Pakistan, Lebanon and Kuwait, and to tap into the LNG value chain, including LNG trading activities.
• Dana Gas entered into an agreement in November 2006 to acquire 100% stake in Centurion Energy International Inc, Calgary (Centurion). Centurion has Exploration & Production properties in Egypt, Tunisia and Offshore West Africa. On January 10, 2007, Dana Gas PJSC completed a Plan of Arrangement (Plan) with Centurion, which was approved by the Centurion common share holders during a special meeting on January 8, 2007, and then also by Queen’s bench of Alberta Court. Under the Plan, the company has acquired all of the issued and outstanding common shares of Centurion for CAD$12.00 in cash per common share for an aggregate acquisition cost of CAD$1.1 billion and retired debt of US $ 127 million.

Dana Gas Board of Directors comprises leading personalities from the private and state sector from all the countries of the GCC, including energy industry professionals and former government officials.

Dana Gas International Advisory Board comprises world renowned personalities from the petroleum sector, who are providing advice and support on international relationships to the company.

Crescent Petroleum is also providing management, technical and operational support to Dana Gas and its subsidiaries under an umbrella agreement. In addition, pursuant to the terms of this agreement, Crescent Petroleum and Dana Gas have agreed to co-operate in developing areas of mutual business interests.

• Dana Gas PJSC was incorporated in the Emirate of Sharjah, United Arab Emirates, with a share capital of AED 6 billion, as a  Public Joint Stock Company on 20 November 2005.
• Dana Gas currently owns a major 600MMscfd gas sweetening and sulphur production plant, Sajaa Gas Private Limited Company   (SajGas) and a major onshore and offshore gas pipeline system with a capacity of 1000MMscfd United Gas Transmissions Company Limited (UGTC).
• Dana Gas acquired a 35% interest in Crescent National Gas Corporation Limited (CNGC)..
• Consistent with the Company's strategy for business growth, during 2006 the Company pursued several business development activities, which included securing strategic positions in existing projects, entering into strategic alliances and developing new opportunities such as JV agreement with Emarat, acquisition of 100% interest in Centurion Energy and co-operation  agreement with SBM.