Receivables brought up to date
The payment marks a key financial milestone for Dana Gas in Egypt, where overdue receivables have previously weighed on cash collections and investment visibility.
The company said progress in collections followed the stronger fiscal framework created by the Consolidated Concession Agreement signed in late 2024. With the latest $20 million received, Dana Gas said its Egypt receivables position is now current.
“We are very encouraged by our progress in Egypt, both operationally and in collections,” said Richard Hall, Chief Executive Officer of Dana Gas. “Importantly, this payment completes the settlement of Dana Gas Egypt’s overdue receivables and brings our receivables position fully up to date. It is a further demonstration of the Egyptian Government’s constructive cooperation and continued commitment to supporting investment in the country’s energy sector.”
Egypt production turns higher
Dana Gas also reported improved operational performance in Egypt during the first quarter of 2026, with average production rising 4% year on year to 13,060 barrels of oil equivalent per day, compared with 12,550 boepd in the same period last year.
The company said this marked the first period of production growth in Egypt after several years of natural decline, reflecting the impact of its ongoing investment programme across the Nile Delta.
Dana Gas is continuing with a $100 million investment programme in Egypt aimed at stabilising and increasing production from its assets in the country.
During 2025, the company drilled four wells and completed workovers across three additional wells, adding around 30 million standard cubic feet per day of production and 36 billion cubic feet of reserves.
Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series.
Her reporting has taken her from breaking spot news to long-form features and high-profile interviews. Nivetha has interviewed Prince Khaled bin Alwaleed Al Saud, Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu, IMF’s Jihad Azour, and a long list of CEOs, regulators, and founders who are reshaping the region’s economy.
An Erasmus Mundus journalism alum, Nivetha has shared classrooms and newsrooms with journalists from more than 40 countries, which probably explains her weakness for data, context, and a good follow-up question.
When she is away from her keyboard (AFK), you are most likely to find her at the gym with an Eminem playlist, bingeing One Piece, or exploring games on her PS5.