Baghdad, The Emirati company, “Dana Gas”, announced a significant improvement in the collection of financial dues from the Kurdistan region.
The company said in a statement published on the Abu Dhabi Securities Exchange website: “The company’s board reviewed a report on the progress of the company’s operations and projects in Egypt, the United Arab Emirates and the Kurdistan Region of Iraq,” noting that “it noticed a tangible improvement in the collection of receivables in the Kurdistan region.”
It added that “the board discussed a semi-annual report on the company’s budget and work plan for the next five years, as well as another semi-annual report on the group’s risk management, and the board approved the financial statements for the first quarter. At the conclusion of its deliberations, the board reviewed a report on the progress of legal and arbitration cases.” .
Dana Gas owns assets in the fields of gas exploration and production in the UAE, Egypt and the Kurdistan region, with a production rate of 66,200 barrels of oil per day, and proven and probable gas reserves exceeding one billion barrels of oil in 2019.
Source: National Iraqi News Agency
