Egypt pays Dana Gas an equivalent of USD 20 mn in arrears

Egypt has paid UAE’s Dana Gas the EGP equivalent of USD 20 mn in arrears, bringing total receipts to USD 152 mn, according to a company press release (pdf). The company also said it expects another payment to be made in USD by year-end to move forward with plans to drill a deepwater exploration well in North El Arish. The payment comes as Egypt pledges to fully repay amounts owed to international oil companies by the end of 2019.