Dana Gas has reported positive results from its Egypt drilling program, alongside the receipt of US$21.5 million in additional payments, bringing all overdue receivables in Egypt to a full settlement.
The company said the improved fiscal framework, stronger collaboration with the Egyptian government, timely payments, and continued investment have increased its confidence to invest further in Egypt as the country works to boost domestic gas production and reduce LNG imports.
Dana Gas is moving ahead with its US$100 million investment program across the Nile Delta. The company increased average production by 4% year on year to 13,060 boepd in the first quarter of 2026, marking its first production growth since 2017.
In 2025, Dana Gas drilled four wells and completed workovers on three more, adding about 30 MMscf/d of production and 36 Bcf of reserves.
The latest well exceeded expectations, identifying an estimated 10 Bcf of gas reserves compared with the original estimate of 3 Bcf. The discovery also opens up further development and exploration opportunities, with the potential to add around 12 Bcf of future gas resources. The company plans to drill four more wells before the end of 2026.
CEO Richard Hall said the settlement of outstanding payments and the return to timely payments have strengthened the company’s confidence to continue investing in Egypt. He added that the latest drilling results, production growth, and larger-than-expected gas discovery highlight the long-term potential of Dana Gas’ Egypt portfolio.
Hall also recognized the support of Egypt’s Ministry of Petroleum and Mineral Resources, EGPC, and EGAS for creating an environment that encourages upstream investment, increases domestic gas production, and reduces dependence on imports.
Egypt has also recorded several recent oil and gas discoveries, including finds by Agiba Petroleum, Eni, and Apache, reflecting continued exploration activity across the country.
source: oilreviewafrica.com
African Energy Council