Dana Gas receives a further $19m from Egypt - ARABIAN BUSINESS

Sun 31 Mar 2019 12:58 PM

The payment is part of the government's ongoing efforts to reduce their receivables position to zero in 2019

In 2018, Dana made good progress in reducing its outstanding balance of overdue receivables.

UAE-based natural gas company Dana Gas has received a payment of $19 million (AED 70 million) from its operations in Egypt.

The payment was made up of a $10 million payment from the government in Egyptian pounds and $9 million from the sale of a shipment of El Wastani condensate.

The payment is part of the government’s ongoing efforts to reduce their receivables position to zero in 2019.

In 2018, Dana made good progress in reducing its outstanding balance of overdue receivables. As at 31 December 2018, the net receivables position reduced by 39% to $140 million, the lowest level since 2011.

Egypt's game-changing energy deals - ARABIAN BUSINESS

Egypt’s Petroleum Ministry expects to attract $8.5bn in foreign
investments in energy research and development in 2016-17.

By Jason Rosychuk
Saturday, 27 August 2016 12:23 AM

The Egyptian government’s landmark oil and gas deals with five global oil majors has been pegged as a turning point for emerging markets hydrocarbons. Amid the publicity and excitement, will these contracts be a game changer for global oil players and for indigenous energy supply in the Middle Eastern country?

While news of the new contracts does not necessarily signal an oil market turnaround, it does demonstrate a renewed appetite for exploration in emerging markets, particularly for those in which established infrastructure exists.