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Dana Gas' KRI, Egypt collections hit $256m in 9M

Dana Gas' KRI, Egypt collections hit $256m in 9M
Dana Gas recorded $125 million collections in Egypt
Dana Gas
DANA
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Abu Dhabi – Mubasher: Dana Gas has collected $256 million (AED 938 million) from the Kurdistan Region of Iraq (KRI) and Egypt during the first nine months of 2021, up 102% year-on-year (YoY) from $127 million (AED 466 million).

The company's collections from sales of condensate, LPG, and gas in the KRI hiked by 77% to $131 million (AED 480 million) in the first nine months of 2021, compared to $74 million (AED 271 million) in the year-ago period, according to a press release on Wednesday.

In Egypt, Dana Gas recorded $125 million (AED 458 million) collections in the January-September period of 2021, up 136% from $53 million (AED 195 million) in the same period of 2020.

The CEO of Dana Gas, Patrick Allman-Ward, said: "Continuing timely payment of invoices and the settlement of outstanding receivables is key to providing us with the confidence to carry on with our expansion plans in the KRI and Egypt."