Prime Highlights
- Dana Gas confirmed the full settlement of Egyptian Government receivables and a return to production growth for the first time since 2017.
- The company’s latest well uncovered 10 billion cubic feet of gas reserves, more than three times the initial estimate of 3 billion cubic feet.
Key Facts :
- Dana Gas is executing a $100 million investment programme across its Nile Delta assets in Egypt, with four more wells planned before end of 2026.
- The company received AED 79 million in additional payments, clearing all outstanding arrears owed by the Egyptian Government.
Background :
Dana Gas has reported strong results from its Egypt drilling programme, alongside the full clearance of overdue receivables from the Egyptian Government.
The company received AED 79 million ($21.5 million) in additional payments, confirming all outstanding arrears have been settled and that timely payments are now continuing. Dana Gas said the progress reflects improved fiscal terms under the Consolidated Concession Agreement and stronger cooperation with Egyptian authorities.
In order to stabilize and increase output across all of its Nile Delta assets, the business is implementing a $100 million investment program. Production grew during Q1 2026 with an average output increasing by 4% year-on-year to reach 13,060 barrels of oil equivalent per day – the first such increase since 2017.
Dana Gas drilled four new wells and did workovers of three wells during 2025, thus boosting production capacity by 30 million standard cubic feet per day and reserves by 36 billion cubic feet.
Recent drilling has outperformed expectations. The latest well uncovered around 10 billion cubic feet of gas reserves against an initial estimate of 3 billion cubic feet, opening up new development and exploration potential across the portfolio.
The company plans to drill four more wells before the end of 2026.
Chief Executive Richard Hall said the settlement of outstanding receivables and the return to full, timely payments gave the company greater confidence to keep investing in Egypt. He added that production growth in the first quarter and stronger-than-expected well results demonstrate the benefits of the ongoing investment programme.
Dana Gas also acknowledged continued support from Egypt’s Ministry of Petroleum and Mineral Resources, EGPC and EGAS.
