Dana Gas, the sixth largest gas producer in Egypt, announced on Sunday that its daily production reached 40,000 barrels of oil per day, an 8% increase compared to the previous year.
The company said in a statement that “it has surpassed the milestone of producing over 100 million barrels of oil equivalent accumulatively since commencing its operations in Egypt in 2007”.
Commenting on the achievements, Patrick Allman-Ward, CEO of Dana Gas, said that such accomplishments were “game-changing for our business”.
The company recently signed concession agreements in the Nile Delta along with the Gas Production Enhancement Agreement (GPEA).
In December 2014, the Egyptian government repaid Dana Gas $60m, out of the total $212m that it owes the company.