Dana Gas, the Middle East's leading regional private sector natural gas company, has received $60 million (Dh220 million) from the Egyptian Government.
The payment represents 28 per cent of the total overdue receivables of $21
The UAE-based Dana Gas said it was in talks with the Egyptian government to secure a higher price for some of the natural gas it extracts, as the North African country moves to encourage investment in energy.
UAE-based Dana Gas said it was in talks with the Egyptian government to secure a higher price for some of the natural gas it extracts, as the North African country moves to encourage investment in energy.
Steadily declining gas pr
Dana Gas, the UAE energy firm, reported a 36 per cent rise in third-quarter net profit on Wednesday as production increased and it reined in costs.
The Sharjah-based company made a profit of $38 million in the three months to Sept
Dana Gas, a leading regional natural gas company, has posted revenues of $541 million during the first nine months of the year period as against $466 million in 2013, marking a 16 per cent increase.
Net profit in the nine mo
Dana Gas has signed a revised deal with Egypt that will help it to recover most of the $280 million it is owed by the government for exploration and production assets in the country, the UAE energy company said.
Dana Gas Egypt, a subsidiary of UAE-based Dana Gas, a top private sector natural gas company, has been awarded two onshore concessions in the Nile Delta as part of the 2014 EGAS bidding round held recently in Egypt.