Photo Credit : Dana Gas
UAE-based Dana Gas has confirmed that all its overdue receivables in Egypt have now been fully settled, marking a significant financial and operational milestone for the company as it expands its investment in the country’s gas sector.
The company said it received additional payments worth Dh79 million ($21.5 million) from the Egyptian government, completing the settlement of outstanding dues and reinforcing its ongoing $100 million investment programme in Egypt’s Nile Delta region.
The announcement comes as Dana Gas reported stronger-than-expected results from its latest drilling activity, with a newly discovered well estimated to hold around 10 billion cubic feet of gas, more than triple the initial forecast of 3 billion cubic feet.
The company said the successful well could also unlock an additional 12 billion cubic feet of recoverable gas resources across the wider licence area, boosting long-term production prospects.
Dana Gas said the improved payment environment and revised fiscal terms under the Consolidated Concession Agreement have strengthened confidence in Egypt as an investment destination.
Richard Hall, Chief Executive Officer of Dana Gas, said the full settlement of receivables and the return to timely payments provide the company with greater certainty to continue developing its Egyptian portfolio.
The company’s $100 million programme is already showing results. Average production in the first quarter of 2026 rose by 4 percent year-on-year to 13,060 barrels of oil equivalent per day, marking the first output growth since 2017.
Dana Gas added that in 2025 it drilled four wells and carried out workovers on three others, adding around 30 million standard cubic feet per day and increasing reserves by 36 billion cubic feet.
Looking ahead, the company plans to drill four more wells before the end of 2026 as Egypt pushes to raise domestic gas production and reduce dependence on imported LNG.
