The UAE Dana Gas Company returns its activity in the field of drilling in Egypt starting next March, after obtaining a part of its late dues with the Egyptian Petroleum Authority, according to two sources familiar with the file, they spoke to the east, provided that their names are not published.
Dana Gas received $ 20 million from her arrears in the country last December, which encouraged her to hostage the excavation and exploration again in Egypt, which hopes to return to the ranks of the gas exporters after achieving its local sufficiency from it first.
One of the exporters said that “Dana Gas and the Egyptian Petroleum Authority signed the company's development program in Egypt at about 100 million dollars.”
Egypt has provided foreign companies new incentives to increase gas production, which is to allow the export of a specific share of new production, so that their revenues are used to pay the required dues, in addition to raising the price of the share of these companies from the new production of gas.
A government official familiar with the file in Egypt for the East said that the “Dana Gas” work program to develop its fields includes digging 11 various wells for research and gas production in areas located in the Nile Delta.
Egypt's daily needs of natural gas are 6 billion cubic feet per day, while its daily production is about 4.2 billion cubic feet. The government aims to increase natural gas production by the end of this year to about 4.8 billion cubic feet per day.
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