The UAE company, Dana Gas, announced that its total cash receipts from the Kurdistan region of Iraq and Egypt amounted to about 1.38 billion dirhams last year, compared to 667 million dirhams in 2020, an increase It is 107%.
The company said in a statement to the Abu Dhabi Financial Market, today, Thursday, that its share of cash payments received from sales of condensate and petroleum gas in the Kurdistan region of Iraq rose in 2021 by 80%. To reach 674 million dirhams, compared to 374 million dirhams in 2020.
The company indicated that it received 707 million dirhams from Egypt in 2021, compared to about 293 million dirhams in 2020, a significant increase of 141% on an annual basis.< /p>
The company attributed this significant improvement in cash receipts to the strong recovery in oil prices and the acceleration of cash payments collection in Egypt and the settlement of old dues in the Kurdistan region of Iraq.
And she indicated that the payments received from the Egyptian government contributed to reducing the total arrears in favor of the company in the Republic to less than 73 million dirhams, at its lowest level since it began its operations in Egypt in 2007.
Dana Gas stated that the total cash received by the company in Egypt during 2021 included a cash payment of 176 million dirhams paid by the Egyptian government last December.
