Dana Gas Boosts Egypt Investment Following Gas Discovery and Settlement of Receivables
Dana Gas has announced strong operational and financial progress in Egypt after receiving US$21.5 million in additional payments, bringing all outstanding receivables owed by the Egyptian government to a full settlement.
The company said the improved payment discipline, a more supportive fiscal framework, and closer collaboration with Egyptian authorities have strengthened its confidence to expand investment in the country.
Egypt is seeking to increase domestic natural gas production and reduce its reliance on liquefied natural gas (LNG) imports.
Dana Gas is currently implementing a US$100 million investment programme across the Nile Delta.
During the first quarter of 2026, the company increased average production by 4% year-on-year to 13,060 barrels of oil equivalent per day (boepd), marking its first annual production growth since 2017.
In 2025, the company drilled four wells and completed workovers on three existing wells, adding approximately 30 million standard cubic feet of gas per day (MMscf/d) and increasing reserves by 36 billion cubic feet (Bcf).
The latest exploration well significantly exceeded expectations, discovering an estimated 10 Bcf of recoverable gas more than three times the original forecast of 3 Bcf.
The discovery has also identified additional exploration potential that could add a further 12 Bcf of gas resources.
Dana Gas plans to drill four additional wells before the end of 2026 as it continues expanding its operations.
Chief Executive Officer Richard Hall said the settlement of outstanding receivables and the restoration of timely payments provide a strong foundation for continued investment in Egypt.
He added that the recent production growth and larger-than-expected gas discovery demonstrate the long-term value of the company’s Egyptian assets.
Hall also acknowledged the support of Egypt’s Ministry of Petroleum and Mineral Resources, the Egyptian General Petroleum Corporation (EGPC), and the Egyptian Natural Gas Holding Company (EGAS) for fostering an investment environment that supports upstream development, increases domestic gas production, and strengthens the country’s energy security.
The announcement comes as Egypt continues to record new oil and gas discoveries by operators including Agiba Petroleum, Eni, and Apache, highlighting sustained exploration momentum across the country’s energy sector.
