DUBAI, June 2 (Reuters) - The United Arab Emirates' Dana Gas has signed an agreement for BP to pay for partof its exploration costs in the El Matriya onshore concessionarea in Egypt, the UAE firm said on Tuesday.
BP will pay for up to $39 million of the cost of Dana'sdrilling of a first natural gas exploration well. The concessionwas awarded to the two companies through international biddingin 2014. Drilling is expected to start in the first half of2016.
Under the deal, BP will have the option to participate inparts of Dana Gas' West El Manzala concession area, Dana said ina bourse statement. (Reporting by Nadia Saleem; Editing by Andrew Torchia)
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