{"id":600256,"date":"2019-01-23T04:02:08","date_gmt":"2019-01-23T04:02:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/dana-gas-to-invest-usd-5-bn-in-egypt-in-the-coming-few-years\/"},"modified":"2019-01-23T04:02:08","modified_gmt":"2019-01-23T04:02:08","slug":"dana-gas-to-invest-usd-5-bn-in-egypt-in-the-coming-few-years","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/dana-gas-to-invest-usd-5-bn-in-egypt-in-the-coming-few-years\/","title":{"rendered":"Dana Gas to invest USD 5 bn in Egypt in the coming few years"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- Dana Gas to invest USD 5 bn in Egypt in the coming few years: <\/b>Speaking of foreign players that have been vocal about dues owed by the government: Dana Gas is planning on increasing its investments in Egypt by USD 5 bn \u201cover the coming few years,\u201d CEO Patrick Allman-Ward said at a meeting with Prime Minister<\/a> Moustafa Madbouly at the World Economic Forum. The investment will see the UAE-based company expand its exploration operations in Egypt, he added. The company has invested USD 2 bn in Egypt since 2007, he noted.<\/p>\n

Paying off arrears pays off:<\/b> Allman-Ward made sure to thank the Egyptian government for its efforts in paying off arrears owed to the company. This is a far cry from 2016, when Dana Gas said<\/a> it was reevaluating its investments in Egypt in light of the government owing it USD 242 mn. The government slashed arrears down to USD 199 mn with a USD 35 mn payment earlier this month<\/a>.<\/p>\n

More good news for the energy sector and FDI watchers<\/b>: Foreign players are expected to invest USD 10 bn FY2019-20 in oil and gas E&P, Oil Minister Tarek El Molla told local press<\/a>. Dues to foreign energy companies fell to USD 1.2 bn and are expected to be completely paid by the end of this year, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- Dana Gas to invest USD 5 bn in Egypt in the coming few years: Speaking of foreign players that have been vocal about dues owed by the government: Dana Gas is planning on increasing its investments in Egypt by USD 5 bn \u201cover the coming few years,\u201d CEO Patrick Allman-Ward said at a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[110,72,125,281,3302,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600256","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-dana-gas","tag-enterpriseam","tag-investment-watch","tag-moustafa-madbouly","tag-patrick-allman-ward","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ab086868-c11f-4733-b20b-26b10d0afe36","is_powered_by":true,"section_story_id":"d84b56a4-ea55-42fa-8b1e-dbf5b539a8cb","story_type":"1","photo_url":"","photo_position":"above","related_issue":[600241],"teaser":"","voice_url":""},"yoast_head":"\nDana Gas to invest USD 5 bn in Egypt in the coming few years - 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The company will not inject new investments in the country because of delays in obtaining payments owed to it by the government, CEO Patrick Allman-Ward said, according to Reuters. 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Speaking on the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/739.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631381,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/18\/dana-to-spend-usd-47-mn-in-egypt-this-year-conditional-on-continued-payment\/","url_meta":{"origin":600256,"position":5},"title":"Dana to spend USD 47 mn in Egypt this year conditional on continued payment","author":"enterpriseam admin","date":"18 March 2018","format":false,"excerpt":"INVESTMENT WATCH- Dana Gas will spend USD 47 mn in CAPEX in Egypt this year, CEO Patrick Allman-Ward said, according to Reuters. 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