Egypt and Iraqi Kurdistan sites of Dana Gas see earnings double in 2021 to $256m

Egypt and Iraqi Kurdistan sites of Dana Gas see earnings double in 2021 to $256m
A Dana Gas facility in Egypt (Dana Gas)
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Updated 06 October 2021

Egypt and Iraqi Kurdistan sites of Dana Gas see earnings double in 2021 to $256m

Egypt and Iraqi Kurdistan sites of Dana Gas see earnings double in 2021 to $256m

Sharjah: UAE-based natural gas company Dana Gas has earned $256 million from its Egyptian and Iraqi Kurdistan sites so far this year  — a 102 percent increase from the same period in 2020. 

In Egypt, Dana Gas collected $125 million during the first nine months of 2021, compared to $53 million in the same period a year earlier, representing a 136 percent increase.

In the Kurdistan Region of Iraq (KRI), the company’s share of collections from sales of condensate, LPG and gas jumped 77 percent in the first 9 months of 2021, from $74 million in the same period the previous year to $131 million. 

“Continuing timely payment of invoices and the settlement of outstanding receivables is key to providing us with the confidence to carry on with our expansion plans in the KRI and Egypt.” Patrick Allman-Ward, chief executive officer of Dana Gas, said.