In a statement, the company said that the total arrears it was paid in 2018 amounted to $88.8m. Dana Gas first entered Egypt in 2007 and has become the fifth largest gas producer in the country. In Q1 2018, production was 36,800 barrels of oil equivalent per day (boepd). President Abdel Fattah Al-Sisi said days ago that the government had paid $4bn of foreign companies’ arrears that reached $6.4bn. Petroleum Minister Tarek El-Molla also met with the Dana Gas CEO on Thursday to discuss the status of the company’s projects in Egypt.

Source: Daily News Egypt May 29, 2018 07:52 UTC