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Dana Gas gets $53m payment from Egypt  Join our daily free Newsletter

MENAFN - Khaleej Times - 25/12/2013

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(MENAFN - Khaleej Times) The payment of 42 million was received in US dollars and the balance in equivalent Egyptian pounds. Including this tranche, during 2013, Dana Gas has received a total of Dh476 million (130 million) from the Egyptian Government authorities.

The Egyptian Government has committed to work with the company on a plan to repay the remainder of the outstanding receivables over an agreed time frame.

Whilst Dana Gas has had on-going discussions with the Egyptian authorities to resolve the issue of outstanding payments, it has also been able to increase production for the benefit of the Egyptian economy and its people.

Dana Gas Egypt's gas, LPG, condensate and crud

 






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