Dana Gas receives $164m in arrears from Egypt in 2017
Dana Gas said that its receivables from Egypt stood at $164m in Egypt in 2017, accounting for 129% of billings, according to a filing to the Abu Dhabi Securities Exchange (ADX). Accordingly, Dana’s total receivable balance in Egypt fell 14% to $228m last year from $265m. Last week, Egypt’s Finance Minister Amr El-Garhy said the […]
Dana Gas and BP to drill exploration wells in the Nile Delta next month
Dana Gas and BP hope to begin drilling exploration wells in their Nile Delta concessions next month, an unnamed EGAS source tell Al Shorouk. The source added that Dana Gas has yet to release new funds to begin operations in the Nile Delta, and is awaiting approval from the board to release the funds before […]
Dana Gas PJSC: Egypt opening its gas market will fuel growth
Foreign investment is expected to climb after the country opens its natural gas market. The decision by Egypt, north Africa’s largest economy, to open its natural gas market will help fuel growth and investment from exploration and production. Egyptian president Abdel Fattah El Sisi signed a new law this week that established a natural gas […]
Dana Gas Egypt production rose by 13% in H1 2017
Dana Gas Egypt’s production output was 13% higher on a half-yearly comparable basis, 39,300 versus 34,850 boepd. The Company recorded a 3% jump in quarterly production, 37,650 boepd in Q2 2017 versus 36,550 boepd in Q2 2016. The planned shutdown of the El Wastani Gas Plant was successfully completed in June 2017. There was a […]
Dana Gas to use AGR software for North El Arish deep water exploration in Egypt
AGR Software team have signed a SaaS (Software as a Service) contract with Dana Gas PJSC to supply the latest version of our P1™ software. AGR’s P1™ software helps its users to improve the accuracy of well time and cost modeling and can be applied for all drilling and well related operations, including completions and […]
Dana Gas receives a further $40 million in arrears from Egypt, repaid total $135 million in 2017
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 […]
Egypt pays Dana Gas $70 million, covering 25% of its arrears
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 […]
Dana Gas receivables in Egypt reach $283 million in Q1 2017
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 […]
AMOC to buy condensates from Dana 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 […]
Dana Gas to restructure debt bond due in October
• 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 […]
