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Dana Gas Confirms Egyption Condensate Sale

Source: www.gulfoilandgas.com 3/4/2018, Location: Africa

Dana Gas PJSC Company, the Middle East's largest regional natural gas company announces the receipt of US$10.4 million in February 2018 from the sale of 157,200 barrels of El Wastani condensate at an average price of US$66.5 per barrel.

The sale marks the fourth cargo of Egyptian condensate since the start of 2017. Last year, the Company sold three shipments for a total receipt of approximately US$21 million. The shipments are part of the Gas Production Enhancement Agreement signed with the Egyptian government as a mechanism to help pay down the overdue receivables.

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