Dana Gas settles Egypt receivables as production returns to growth

(WO) - Dana Gas PJSC has fully settled its overdue receivables in Egypt, while reporting a return to production growth in its Nile Delta operations.

The company said it received an additional $20 million payment, bringing its receivables position in Egypt current following earlier collections. The settlement reflects ongoing engagement with the Egyptian government and is expected to support continued investment in the country’s upstream sector.

“Importantly, this payment completes the settlement of Dana Gas Egypt’s overdue receivables and brings our receivables position fully up to date,” said CEO Richard Hall. He added that the progress demonstrates “the Egyptian Government’s constructive cooperation and continued commitment to supporting investment in the country’s energy sector.”

Operationally, Dana Gas reported a 4% year-over-year increase in Egypt production during the first quarter of 2026, averaging 13,060 boepd. The increase marks the first period of growth following several years of natural decline, driven by ongoing field development and well interventions.

The company is executing a $100-million investment program focused on stabilizing and increasing production across its Nile Delta assets. In 2025, Dana Gas drilled four wells and performed workovers on three others, adding approximately 30 MMscf/d of output and 36 Bcf of reserves.

“We are very encouraged by our progress in Egypt, both operationally and in collections,” Hall said, noting the company’s focus on “delivering value from its Egypt operations.”

The update highlights improving operating conditions in Egypt’s gas sector, as operators benefit from both increased investment activity and progress in clearing outstanding payments.