Abu Dhabi – Mubasher: Dana Gas announced on Thursday that it received EGP 184 million ($50 million) from the Egyptian government.
This payment represents 18% of the total receivables of Dana Gas from Egypt, which reached EGP 1.038 billion at the end of the first quarter of 2017, according to the company’s statement.
Dana Gas had reported that total payments received from the Egyptian government reached $13 million, or 42% of total receivables during Q1-17, according to a previous statement.
Dana Gas had previously posted an 82% increase in net profits to $11 million during the first three months of 2017, compared to $6 million in the same period in 2016.
