Dana Gas will not inject new investments in Egypt because of delays in obtaining payments owed to it by the government.

Schlumberger, the world's leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry, will reduce activity in Venezuela after failing to collect enough payments.

Egypt’s government has paid Dana Gas US$60 million, part of overdue receivables totalling $212m, the Abu Dhabi-listed firm said in a statement on Sunday.

Britain's BG Group said on Friday it had received a $350 million payment from the Egyptian government following the country's decision to repay outstanding debts to the energy industry.

UAE-based Dana Gas is struggling to cope with the payment delays owed from Egypt and Kurdistan. The company's outstanding debt of $1billion Sukuk (Islamic bonds) has significantly strained the company's ability to progress its expansion plans in Egypt.