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    Dana Gas Reports Rise in 9M Collections


Collections were up almost 17% year on year.

by: Shardul Sharma

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Natural Gas & LNG News, Africa, Middle East, Corporate, Exploration & Production, Financials, News By Country, Egypt, Iraqi Kurdistan, United Arab Emirates

Dana Gas Reports Rise in 9M Collections

The Middle East and North Africa-focused Dana Gas’ collections in the nine months to September 30 (9M 2019) increased 16.7% year on year to $230mn, it said November 10 in a statement.

Dana Gas, which owns a 35% stake in Kurdistan-focused Pearl Petroleum, saw its share of sales of condensate, LPG and gas in the Kurdistan Region of Iraq jump 52% to $118mn during the period. Dana Gas received cash dividends of $68.3mn from Pearl Petroleum over this period, it said.

Meanwhile, the collections from Dana Gas Egypt were $105mn during the period, in line with the $111mn received in the same period of 2018 while collections from the company's Zora gas field in the UAE stood at $7.3mn.