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Tag: Dana Gas
Dana Gas

Dana Gas receives a further $40 million in arrears from Egypt, repaid total $135 million in 2017

Posted: June 8, 2017 at 7:20 pm   /   Oil & Gas

Dana Gas shares soar with Egyptian arrears reduced further. Dana Gas shares soared yesterday after the company said it received another payment from the Egyptian government, reducing the arrears owed by nearly 30 per cent so far this year. The Sharjah-based oil and gas operator, which is 19 per cent owned by Crescent Petroleum, has […]

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Dana Gas

Egypt pays Dana Gas $70 million, covering 25% of its arrears

Posted: May 22, 2017 at 3:14 pm   /   Oil & Gas

Egypt has paid an additional US$20 million in local currency, in addition to the $50 million in US Dollars received last week. Sharjah-based Dana Gas has received another payment from the Egyptian government for outstanding arrears, the company said in an ADX filing. The company said on Sunday that Egypt has paid an additional US$20 […]

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Dana Gas receivables in Egypt reach $283 million in Q1 2017

Posted: May 14, 2017 at 7:41 pm   /   Oil & Gas

Dana Gas said Thursday that total receivables in Egypt increased in the first quarter of fiscal year 2017 to $283 million, compared to $265 million in Q1-2016. The company has collected $13 million during Q1-2017, about 42% of total dues, according to a statement. “Dana Gas Egypt’s production was solid in Q1-2017. The onshore gas […]

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AMOC to buy condensates from Dana Gas

Posted: May 7, 2017 at 5:40 pm   /   Oil & Gas

Alexandria Mineral Oils Company (AMOC) has reached an agreement to buy condensates produced by Dana Gas, according to Al Shorouk. The agreement will be signed within a week, AMOC’s head said. AMOC aims to refine 1,500 boe a day of Dana Gas’ condensates in its refineries for two months, increasing the amount to 4,000 boe […]

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Dana Gas to restructure debt bond due in October

Posted: May 4, 2017 at 2:19 pm   /   Oil & Gas

• Energy company asks creditors to discuss $700 million of debt. • Dana Gas cites difficulty collecting payments in Egypt, Iraq. Dana Gas PJSC will ask bondholders to accept changed terms on $700 million of debt coming due in October as the energy producer based in the United Arab Emirates seeks to restructure debt for […]

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Dana Gas makes first Egypt gas condensate sale as arrears continue to mount

Posted: April 27, 2017 at 1:40 pm   /   Oil & Gas

Dana Gas PJSC, the Middle East’s largest regional natural gas company, has today achieved an important milestone with the first international sale of condensate in Egypt under the Gas Production Enhancement Agreement (GPEA). The first cargo is approximately 150,000 barrels of Wastani condensate and was loaded on 15 April 2017. The buyer has issued a […]

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Dana Gas: Egypt owes company $265 million

Posted: April 11, 2017 at 1:36 pm   /   Oil & Gas

Dana Gas announced that the Kurdistan Regional Government (KRG) owes $713 million for investment in the Kurdistan Region, while Egypt owes the company $265 million. Dana Gas CEO Patrick Allman-Ward said during an interview with al-Arabiya channel the KRG and the government of Egypt owe one billion dollars for investments in the countries. The Dana […]

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Minister of Petroleum meets with Dana Gas management

Posted: March 20, 2017 at 2:00 pm   /   Oil & Gas

The Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla, met with Dana Gas’ Technical Director and General Manager for Egypt, Mrs. Iman Hill. During the meeting, they reviewed that the company’s plans for its joint venture El Wastani Petroleum Company (WASCO) to drill new wells to be added to production. The attendees also […]

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Dana Gas provides market update on its Egyptian drilling program

Posted: March 12, 2017 at 1:09 pm   /   Oil & Gas

Dana Gas, the Middle East’s leading regional private sector natural gas company, provides a market update on its BP-operated Mocha-1 well, drilled in the El Matariya (Block 3) onshore concession in Egypt. The Mocha-1 exploration well on Block 3 has been completed. The well reached the top of the targeted Oligocene at a depth of […]

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UAE's Dana Gas freezes Egypt investments over debts

Posted: February 11, 2017 at 2:33 pm   /   Oil & Gas

Dana Gas will not make new investments in Egypt because of delays in obtaining payments owed to it there, the chief executive of the United Arab Emirates company said. Political and economic turbulence in Egypt and Iraqi Kurdistan mean Dana Gas has struggled to secure revenues in either country, once again hitting its profit on […]

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