Dana Gas announces $ 111 million from government to Dana Gas The Egyptian news agency quoted Dana Gas, saying: "We publish $ 111 million from government to Dana Gas" and $ 111 million from government to Dana Gas. The main news, $ 111 million from the government to Dana Gas.
Dana Gas, the UAE-based oil company, announced that the total payments received by the company from the Egyptian government during the first nine months of this year amounted to approximately 111 million dollars of its outstanding fees.
The company said in a statement: The average production of the company in Egypt has decreased to 34.5 thousand barrels of oil equivalents per day during the first nine months of 2018, compared with 39.6 thousand barrels of oil equivalents per day in the same period in 2017, attributing the decline in production in Egypt to the natural decline in field production and reduction of the company's investments in drilling.
In Egypt, the company has 14 development licenses, three exploration concessions and two gas treatment plants, with proven and probable reserves (at the end of fiscal year 2017) of approximately 117 million barrels of oil equivalents.
At the end of the third quarter, the company successfully completed the drilling of Balsam's 8 well in Egypt and completed its connection to the pipeline network before the scheduled schedule and below the budget, which will help increase the company's production by more than 5,000 barrels of oil equivalents per day. Preparations are ongoing to drill the first deep sea well in sector 6 in early 2019.
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