Arab Finance: Dana Fuel has gained further bills of AED 79 million ($21.5 million) from the Egyptian executive, as all of the corporate’s late receivables in Egypt were absolutely settled, as in line with a press liberate.
Strengthening self assurance in additional funding in Egypt, this transfer comes as Dana Fuel has been enforcing its $100 million funding program to stabilize manufacturing and toughen output expansion throughout its Nile Delta belongings.
The corporate reported reasonable manufacturing of 13,060 barrels of oil similar in line with day right through the primary quarter (Q1) of 2026, up 4% year-on-year (YoY), marking its first build up in manufacturing since 2017.
In 2025, Dana Fuel drilled 4 wells and performed workovers on 3 further wells, including roughly 30 million same old cubic ft in line with day (MMscf/d) of manufacturing and 36 billion cubic ft (Bcf) of reserves.
Fresh drilling effects have additional supported the corporate’s construction plans, as its newest neatly recognized an estimated 10 Bcf of gasoline reserves, when compared with an preliminary forecast of three Bcf. The invention is predicted to toughen further construction and exploration alternatives inside the license space and may just give a contribution roughly 12 Bcf of long run gasoline assets as soon as introduced into construction.
Additionally, Dana Fuel plans to drill 4 further wells earlier than the tip of 2026 because it continues to put money into its Egyptian operations. Growth in Egypt has been supported by way of the implementation of the consolidated concession settlement, persevered cooperation with the Egyptian executive, and the solution of remarkable receivables.
The tendencies come as Egypt seeks to inspire upstream funding, build up home gasoline manufacturing, and cut back reliance on imported liquefied herbal gasoline (LNG).
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