Dubai – Mubasher: Dana Gas will start discussions over restructuring with sukuk holders dated 8 May 2013.

The sukuk matures on 31 October 2017, according to a statement.

Dana will take into account the issues it is facing over cash collections and the need to focus on cash preservation on the short- to medium-term.

Egypt and the Kurdistan Region of Iraq (KRI) have arrears worth around $1 billion owed to the company.