Dana Gas Collections in Egypt Reach $125 M in 2021

Dana Gas Collections in Egypt Reach $125 M in 2021

Dana Gas PJSC announced that its gas collections from Egypt within the first nine months of 2021 have reached $125 million, which is a 136% increase compared to the same period in 2020 when it only reached $53 million.

On this occasion, Patrick Allman-Ward, CEO of Dana Gas, said “We are pleased with the improvement in our collections this year, which have been supported by a strong rebound in commodity prices. Continuing timely payment of invoices and the settlement of outstanding receivables is key to providing us with the confidence to carry on with our expansion plans in the KRI and Egypt.”

In April 2021, Dana Gas announced its decision to terminate the agreement to sell its Egyptian assets and to retain and operate its assets in Egypt as well as the highly prospective exploration acreage offshore Block 6.



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