Dana Gas says has not received payment for gas in Egypt

Dana Gas says has not received payment for gas in Egypt

UAE energy firm Dana Gas has not yet received payment for gas delivered in Egypt, it said in a statement on Tuesday.

August 2, 2011 11:53 by Reuters

the interpretation of certain production sharing agreement clauses with respect to the means of calculating profit share splits at different production levels, the statement said.

“The two sides are currently reviewing several options to expedite payment of the current overdue receivables,” it added.

Dana Gas has significant investments in Egypt and said it produced 4.25 million barrels of oil equivalent (BoE) in the country during the first-quarter of this year. (Reporting by Amena Bakr, writing by Daniel Fineren; Editing by Amran Abocar)

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