Dana Gas’ Egypt oil production rose to 13,300 barrels of oil equivalent per day (boe/d) in the first half (H1) of 2026 marking a 7% year-on-year (YoY) hike compared to its level a year earlier. Also, its latest drilling campaign in Egypt identified an estimated 10 billion cubic feet (Bcf) of gas resources, exceeding the original predictions of 3 Bcf and thus could support an additional 12 Bcf of gas resources across the license area once developed, according to a statement by the UAE-based natural gas company.
Dana Gas plans to drill four additional wells in Egypt before the end of 2026. The company drilled three new wells and re-completed one well during H1 2026 as part of its ongoing investment and drilling program in Egypt. Two of the new wells were exploration wells, while a further well identified the estimated 10 Bcf of gas resources.
The operational improvement was accompanied by the company settling all overdue receivables from the Egyptian government, with payments now being made in full and on time.
Dana Gas has received a final $20 million payment from Egypt, bringing its outstanding receivables in the country to zero, the company said in a statement on May 3.
“In Egypt, production increased year-on-year for a second consecutive quarter, while all overdue receivables were settled and payments continued in full and on time. This gives us greater confidence to continue investing in the country,” Richard Hall, CEO of Dana Gas, said.
In February, Hall said, “We restarted investment under improved fiscal terms, drilled new wells, made discoveries, and began to stabilize production in assets that had been in natural decline. This was about putting Egypt back on a growth footing, and we are encouraged by the results to date.”
For the group as a whole, Dana Gas reported a 47% year‑on‑year rise in net profit to AED393 million ($107 million) in H1 2026. The result included a one‑off AED176 million ($48 million) gain from a gas metering reconciliation recognised in the first quarter. Excluding this item, net profit stood at AED217 million ($59 million
Revenue increased 51% YoY to AED 946 million ($258 million), Excluding the one-off item, revenue increased by AED 143 million ($39 million) YoY, mainly due to higher hydrocarbon prices, higher production in Egypt, and increased gas sales volumes at Pearl Petroleum in the Kurdistan Region of Iraq (KRI).
Dana Gas’ average gas production in 2025 stood at 53,500 boe/d, down from 56,500 boe/d in 2024. However, output rose sharply after year-end, reaching 70,000 boe/d in January 2026, the highest level since 2018, following the completion of the Iraqi KM250 gas expansion project at Khor Mor gas field in the Kurdistan Region of Iraq (KRI) alongside continued execution of the company’s investment program in Egypt.
