{"id":629364,"date":"2018-05-29T03:41:27","date_gmt":"2018-05-29T03:41:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/egypt-repays-usd-40-mn-in-dues-to-uaes-dana-gas\/"},"modified":"2018-05-29T03:41:27","modified_gmt":"2018-05-29T03:41:27","slug":"egypt-repays-usd-40-mn-in-dues-to-uaes-dana-gas","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/egypt-repays-usd-40-mn-in-dues-to-uaes-dana-gas\/","title":{"rendered":"Egypt repays USD 40 mn in dues to UAE\u2019s Dana Gas"},"content":{"rendered":"

The UAE\u2019s Dana Gas <\/strong>announced yesterday<\/strong><\/a> that it received USD 40 mn in payments from the Egyptian government,<\/strong> bringing total dues received so far in 2018 up to USD 88.8 mn. The funds will mostly be used to bolster Dana\u2019s liquidity, allowing the company to pursue a number of projects in its pipeline, which include the development of the Balsam 8 well at its Nile Delta concession, as well as drilling its first offshore well in the Mediterranean north of Al Arish, which should start by early 2019. Dana Gas CEO Patrick Allman-Ward had previously said that his company would spend USD 47 mn in CAPEX in Egypt this year if the government follows through on its payments. Allman-Ward had met with Oil Minister Tarek El Molla last week<\/a> to discuss the latest with the company\u2019s ongoing projects in Egypt. Dana currently holds 14 development licenses, three concessions, and two treatment facilities in Egypt. EGPC\u2019s payment could have been drawn from <\/strong>a USD 850 mn loan<\/strong><\/a> from a local banking consortium<\/strong> to repay international oil companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE\u2019s Dana Gas announced yesterday that it received USD 40 mn in payments from the Egyptian government, bringing total dues received so far in 2018 up to USD 88.8 mn. The funds will mostly be used to bolster Dana\u2019s liquidity, allowing the company to pursue a number of projects in its pipeline, which include […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-629364","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"fbaf51c2-79d5-4200-9b42-020137c189a8","order":"0","is_powered_by":true,"section_story_id":"7733a2f0-76d0-4c8a-ab2e-d8ac16e3ff29","story_type":"1","photo_url":"","photo_position":"above","related_issue":[629355],"teaser":"","voice_url":""},"yoast_head":"\nEgypt repays USD 40 mn in dues to UAE\u2019s Dana Gas - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/egypt-repays-usd-40-mn-in-dues-to-uaes-dana-gas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt repays USD 40 mn in dues to UAE\u2019s Dana Gas\" \/>\n<meta property=\"og:description\" content=\"The UAE\u2019s Dana Gas announced yesterday that it received USD 40 mn in payments from the Egyptian government, bringing total dues received so far in 2018 up to USD 88.8 mn. 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The Emirati company had received a total of USD 78 mn in payments from the government during 1H2019, reducing its outstanding receivables to USD 125 mn, the lowest level since\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630962,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/06\/dana-gas-to-begin-drilling-in-mediterranean-concession-in-2h2018\/","url_meta":{"origin":629364,"position":1},"title":"Dana Gas to begin drilling in Mediterranean concession in 2H2018","author":"enterpriseam admin","date":"6 March 2018","format":false,"excerpt":"The UAE\u2019s Dana Gas is set to start drilling operations on the first well in its Mediterranean concession in Egypt in 2H2018, EGAS sources tell Al Shorouk. The company has excess liquidity that it will deploy to new projects in Egypt, including the drilling of three wells in its Delta\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599537,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/egypt-pays-dana-gas-usd-35-mn-in-arrears\/","url_meta":{"origin":629364,"position":2},"title":"Egypt pays Dana Gas USD 35 mn in arrears","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"Egypt paid UAE\u2019s Dana Gas USD 35 mn in arrears on Saturday, bringing total receipts to USD 199 mn, according to a company press release. Dana Gas also received an additional USD 9.3 mn from condensate sales. 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