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 Mena region, 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 honouring the achievements and positive contributions of organisations and working people worldwide, the company said in a statement.

Ahmed 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 Sheikha Lubna Al Qassimi, Minister for Foreign Trade, UAE.

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.

He noted that the company's revenues jumped in the first half of this year to Dh 814 million ($221 million), compared to Dh 480 million ($130 million) in the same period last year, while net profit doubled during the same period from Dh66 million ($17 million) to Dh216 million ($58 million).

"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. The company will continue to work diligently and continuously seek ways to explore various opportunities and implement best practices in everything we do," Al-Arbeed added.

The International Business Awards is the only international, independent, and all-encompassing business award 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. – TradeArabia News Service