The UAE company, Dana Gas, said that it received a cash payment of $39 million (143 million dirhams) in December from Egypt, thus reducing the total amounts owed to the company in Egypt has fallen to less than $30 million, the lowest level since Dana Gas started its operations in Egypt in 2007.
According to Arabiya Net, this new payment represents a continuation of the cash payments received by the company throughout the current year, during which it witnessed a radical improvement in the level of collection of its dues, bringing the total amounts received in Egypt during 2021 by 130 percent to reach 184 million dollars (674 million dirhams). Compared to $80 million last year.
Dana Gas has invested more than $2 billion since the start of its operations in Egypt in 2007, and the company is currently the fifth gas producer in the republic, with a production rate of 29,200 barrels of oil equivalent per day during the third quarter of this year.
