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"Dana Gas" announces a "significant improvement" in cash payments received from the Kurdistan Region
Shafaq News/ "Dana Gas" company announced on Thursday that the total cash payments it received in the Kurdistan Region of Iraq and Egypt increased by 107% on an annual basis in the year 2021 to reach 1.38 billion dirhams, compared to 667 million dirhams in the year 2020.
The company explained this morning that this significant improvement in the level of collection is due to the strong recovery in oil prices and the acceleration of the pace of cash payments collection in Egypt and the settlement of old dues in the Kurdistan Region.
It said that its share of cash payments received from sales of condensate and petroleum gas in the Kurdistan region increased by 80% to 674 million dirhams in 2021 compared to 374 million dirhams in 2020.
It is noteworthy that "Dana Gas" announced that it had received a cash payment of $39 million, during the month of December 2021, from the Egyptian government.
She noted that by receiving this payment, the total amounts owed by Egypt would be reduced to less than 30 million dollars (110 million dirhams); This is at the lowest level since the start of its operations in Egypt in 2007.
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The company explained this morning that this significant improvement in the level of collection is due to the strong recovery in oil prices and the acceleration of the pace of cash payments collection in Egypt and the settlement of old dues in the Kurdistan Region.
It said that its share of cash payments received from sales of condensate and petroleum gas in the Kurdistan region increased by 80% to 674 million dirhams in 2021 compared to 374 million dirhams in 2020.
It is noteworthy that "Dana Gas" announced that it had received a cash payment of $39 million, during the month of December 2021, from the Egyptian government.
She noted that by receiving this payment, the total amounts owed by Egypt would be reduced to less than 30 million dollars (110 million dirhams); This is at the lowest level since the start of its operations in Egypt in 2007.
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