Arab Finance: Dana Gas has received an additional $20 million payment from Egypt, confirming that all overdue government receivables have now been fully settled, according to a statement.

This progress, following the receipt of a $50 million payment in December 2025, was backed by the stronger fiscal framework under the consolidated concession agreement signed in late 2024.

During the first quarter (Q1) of 2026, the UAE-based company delivered strong operational performance in Egypt, with average production increasing by 4% year-on-year (YoY) to 13,060 boepd, compared to 12,550 boepd.

This quarter witnessed the first production growth in Egypt following a period of natural decline, demonstrating the impact of the company’s ongoing investment program.

Dana Gas continues to execute its $100 million investment program in Egypt, focused on stabilizing and growing production across its Nile Delta assets.

Richard Hall, CEO of Dana Gas, said: “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.”

In 2025, the group successfully drilled four wells and carried out workovers across three additional wells, adding approximately 30 MMscf/d of production and 36 Bcf of reserves.

The year marked a decline in production from its Egyptian fields and weaker oil prices, with Brent crude averaging $69 per barrel, compared to $81 in 2024.

It is worth highlighting that the Egyptian government has reduced dues to international oil companies (IOCs) to approximately $770 million now from $6.1 billion in June 2024.

The state is committed to reaching zero dues before the end of June 2026 in line with joint efforts to boost production from existing fields and accelerate exploration activities.