Dana Gas, the Middle East’s largest private natural gas firm, has received a final $20m payment from Egypt, fully clearing all outstanding arrears, according to the company’s statement.
“We are very encouraged by our progress in Egypt, both operationally and in collections. Importantly, this payment completes the settlement of Dana Gas Egypt’s overdue receivables and brings our receivables position to a full up-to-date status. It is a further demonstration of the Egyptian government’s constructive cooperation and continued commitment to supporting investment in the country’s energy sector,” Richard Hall, Chief Executive Officer, said.
The settlement of Dana Gas Egypt’s overdue receivables underscores the company’s proactive engagement with the Egyptian government and the government’s sustained commitment to clearing foreign arrears, noted the statement.
This progress has been supported by the stronger fiscal framework introduced under the Consolidated Concession Agreement signed in late 2024.
“Dana Gas greatly appreciates the ongoing support and cooperation of the Egyptian government, which has been instrumental in strengthening confidence, supporting ongoing investment, and enabling the company to continue delivering value from its Egypt operations,” Hall added.
In the first quarter (Q1) of 2026, Dana Gas achieved stronger operational results in Egypt, with average production rising 4% year-on-year (YoY) to 13,060 barrels of oil equivalent per day (boe/d). This marks the first period of production growth in Egypt after a phase of natural decline, underscoring the impact of the company’s ongoing investment program.
Dana Gas is advancing its $100 million investment plan in Egypt, aimed at stabilizing and expanding output across its Nile Delta assets. In 2025, the company drilled four wells and completed workovers on three others, adding approximately 30 million standard cubic feet per day (mmscf/d) of production and 36 billion cubic feet (bcf) of reserves.
In related news, Karim Badawi, Minister of Petroleum and Mineral Resources, revealed that the accumulated arrears owed to investment partners in oil and gas production have declined from $6.1 billion in June 2024 to about $714 million by the end of April 2026, paving the way for full settlement and reaching zero dues by the end of next month.
Badawi explained that the regular monthly settlement of dues, alongside the reduction of accumulated debt and the implementation of a package of incentive measures, is helping to strengthen partners’ confidence and encourage them to increase investment in exploration, development, and production activities. This, in turn, supports domestic output and reduces the import bill.