Arab Finance: Dana Gas has received additional payments of AED 79 million ($21.5 million) from the Egyptian government, as all the company's overdue receivables in Egypt have been fully settled, as per a press release.

Strengthening confidence in further investment in Egypt, this move comes as Dana Gas has been implementing its $100 million investment program to stabilize production and support output growth across its Nile Delta assets.

The company reported average production of 13,060 barrels of oil equivalent per day during the first quarter (Q1) of 2026, up 4% year-on-year (YoY), marking its first increase in production since 2017.

In 2025, Dana Gas drilled four wells and carried out workovers on three additional wells, adding approximately 30 million standard cubic feet per day (MMscf/d) of production and 36 billion cubic feet (Bcf) of reserves.

Recent drilling results have further supported the company's development plans, as its latest well identified an estimated 10 Bcf of gas reserves, compared with an initial forecast of 3 Bcf. The discovery is expected to support additional development and exploration opportunities within the license area and could contribute approximately 12 Bcf of future gas resources once brought into development.

Moreover, Dana Gas plans to drill four additional wells before the end of 2026 as it continues to invest in its Egyptian operations. Progress in Egypt has been supported by the implementation of the consolidated concession agreement, continued cooperation with the Egyptian government, and the resolution of outstanding receivables. 

The developments come as Egypt seeks to encourage upstream investment, increase domestic gas production, and reduce reliance on imported liquefied natural gas (LNG).