{"id":649280,"date":"2017-04-27T04:06:04","date_gmt":"2017-04-27T04:06:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/"},"modified":"2017-04-27T04:06:04","modified_gmt":"2017-04-27T04:06:04","slug":"dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/","title":{"rendered":"Dana Gas to keep full proceeds of Egyptian condensates sale as arrears continue to mount"},"content":{"rendered":"

Dana Gas to keep full proceeds of Egyptian condensates sale as arrears continue<\/strong>to mount:<\/strong> Dana Gas has made its first international sale of Egyptian gas condensate, selling 150K barrels of condensate produced at its El Wastani gas fields in the El Manzala concession in the Nile Delta, for USD 7.2 mn the company said in a statement<\/a> on Wednesday. It added, however, that arrears are still mounting as the Egyptian government paid only half of what it owed the company in 1Q17. The company said that it expects to sell three additional cargoes over the next 12 months if current production rates are maintained. The company plans to keep all the proceeds of the sales and says total arrears it is owed by the government have grown to USD 289 mn, up from USD 265 mn at the end of last year. \"Collections of our overdue receivables in general remain well below our expectations. We are yet to receive a significant payment this year,\" said CEO Patrick Allman-Ward.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dana Gas to keep full proceeds of Egyptian condensates sale as arrears continueto mount: Dana Gas has made its first international sale of Egyptian gas condensate, selling 150K barrels of condensate produced at its El Wastani gas fields in the El Manzala concession in the Nile Delta, for USD 7.2 mn the company said in […]<\/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-649280","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"1fe0c72c-8276-4f8a-8f91-4bf6314b6a1b","order":"0","is_powered_by":true,"section_story_id":"a5846f1e-e218-47ca-b90a-d9a5dd8a90dc","story_type":"1","photo_url":"","photo_position":"above","related_issue":[649262],"teaser":"","voice_url":""},"yoast_head":"\nDana Gas to keep full proceeds of Egyptian condensates sale as arrears continue to mount - 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\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dana Gas to keep full proceeds of Egyptian condensates sale as arrears continue to mount\" \/>\n<meta property=\"og:description\" content=\"Dana Gas to keep full proceeds of Egyptian condensates sale as arrears continueto mount: Dana Gas has made its first international sale of Egyptian gas condensate, selling 150K barrels of condensate produced at its El Wastani gas fields in the El Manzala concession in the Nile Delta, for USD 7.2 mn the company said in […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-27T04:06:04+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Dana Gas to keep full proceeds of Egyptian condensates sale as arrears continue to mount\",\"datePublished\":\"2017-04-27T04:06:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/\"},\"wordCount\":180,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/dana-gas-to-keep-full-proceeds-of-egyptian-condensates-sale-as-arrears-continue-to-mount\/\",\"name\":\"Dana Gas to keep full proceeds of Egyptian condensates sale as arrears continue to mount - 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The Emirati company\u2019s total revenues from its month\u2019s operations in Egypt reached USD 48 mn as it has also made USD 10 mn from selling natural gas condensate. Dana Gas received a total\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":599537,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/egypt-pays-dana-gas-usd-35-mn-in-arrears\/","url_meta":{"origin":649280,"position":1},"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. The payments have brought arrears owed to the company to their \u201clowest 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":600256,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/dana-gas-to-invest-usd-5-bn-in-egypt-in-the-coming-few-years\/","url_meta":{"origin":649280,"position":2},"title":"Dana Gas to invest USD 5 bn in Egypt in the coming few years","author":"enterpriseam admin","date":"23 January 2019","format":false,"excerpt":"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\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":630899,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/05\/dana-gas-receives-usd-10-4-mn-from-gas-sales-to-egypt\/","url_meta":{"origin":649280,"position":3},"title":"Dana Gas receives USD 10.4 mn from gas sales to Egypt","author":"enterpriseam admin","date":"5 March 2018","format":false,"excerpt":"Dana Gas received USD 10.4 mn last month from the sale of Egyptian natural gas condensate as part of a plan to recover outstanding receivables, the company disclosed to the ADX. Dana Gas sold 157,200 bbl of El Wastani condensate at an average price of USD 66.5 per bbl. \u201cThe\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":647865,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/22\/egypt-makes-payment-to-dana-gas-covering-25-of-what-it-is-owed\/","url_meta":{"origin":649280,"position":4},"title":"Egypt makes payment to Dana Gas covering 25% of what it is owed","author":"enterpriseam admin","date":"22 May 2017","format":false,"excerpt":"Egypt has made payments covering 25% of the arrears owed to Dana Gas, the company said in disclosures to the ADX. Dana Gas received a USD 50 mn payment from the Egyptian government, according to a regulatory filing. The company had also received another payment of USD 20 mn in\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":605034,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/19\/egypt-pays-dana-gas-an-equivalent-of-usd-20-mn-in-arrears\/","url_meta":{"origin":649280,"position":5},"title":"Egypt pays Dana Gas an equivalent of USD 20 mn in arrears","author":"enterpriseam admin","date":"19 December 2018","format":false,"excerpt":"Egypt has paid UAE\u2019s 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). 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