Karim Badawi, Minister of Petroleum and Mineral Resources, met with Richard Hall, CEO of UAE-based Dana Gas, to review the company’s operations in Egypt and discuss plans to expand exploration, development, and production activities, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
The meeting focused on increasing natural gas output from Dana Gas’s onshore Delta concessions and advancing upcoming drilling and investment programs. These efforts align with the ministry’s strategy to boost domestic oil and gas production and deepen collaboration with investors.
Badawi highlighted the strength of Egypt’s long-standing partnership with Dana Gas, emphasizing that the government’s success in settling outstanding payments to foreign energy companies, including the Emirati company, has reinforced investor confidence and underscored its commitment to a stable and attractive investment environment.
The minister also reaffirmed the ministry’s commitment to supporting industry partners and addressing operational challenges to ensure investment programs are delivered on schedule and maximize the value of Egypt’s natural resources.
Also, the ministry is expanding the use of advanced technologies, particularly horizontal drilling and hydraulic fracturing, which have proven effective in boosting production rates and improving recovery from existing reserves, according to Badawi.
Hall welcomed the ministry’s continued support, noting that the regular settlement of arears demonstrates the Egyptian government’s credibility and commitment to its partners. This has strengthened Dana Gas’s confidence in Egypt.
Hall revealed that Dana Gas’s latest drilling campaign delivered strong results, increasing the company’s proven gas reserves by an estimated 20%-25%. In response, the company has added two new wells to its exploration program to accelerate production growth and maximize the potential of its Egyptian concession areas.
On June 23, Dana Gas announced exploration outcomes from its Nile Delta concessions, where it completed and integrated multiple wells into its operational network. These new assets drove the company’s Egyptian operations to deliver over 30,000 barrels of oil equivalent per day (boe/d) to its total production.
The company also confirmed full recovery of receivables in Egypt during the month by receiving an additional $21.5 million, a milestone that follows the government’s broader settlement of arrears owed to international oil companies (IOCs) on June 10.
