Egypt Pays $10 M to Dana Gas
Dana Gas received $10 million from the Egyptian government, as well as $9 million from the sales of El Wasatani field's condensates.
Dana Gas received $10 million from the Egyptian government, as well as $9 million from the sales of El Wasatani field's condensates.
Dana Gas expects to generate a financial impact in Iraqi Kurdistan through its latest gas sales agreements with the KRG.
Vantage's Tungsten Explorer drillship will be responsible for drilling a firm well, with an option to drill three more wells. The drilling program is planned to be completed in 77 days.
A consortium led by Dana Gas and Crescent Petroleum has inked a gas sales deal with KRG to increase gas output by 63% in two years.
The company collected seismic data that revealed natural gas reserves up to 20 trillion cubic feet, which will make it second to the Zohr mega field in production.
Dana Gas's investments in Egypt reached around $2 billion since 2007, and the company ranks the fifth position in natural gas discoveries.
Egypt has paid an additional $35 million to Dana Gas as a part of its overdue.
Dana Gas has announced receiving arrears equivalent to $20 million in Egyptian pounds from the Egyptian government.
Dana Gas Company announced the completion of the Balsam-8 well drilling in Q4 of 2018, which added over 5,000 barrels of oil equivalent per day (boe/d) to production.
Dana Gas and its partner Crescent Petroleum have announced a 30% increase of the production capacity of the Khor Mor field in Iraqi Kurdistan.