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"Dana Gas" sells the first international shipment of condensate oil in Egypt


yota691
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The first shipment volume reached about 150 thousand barrels
The first shipment volume reached about 150 thousand barrels

Roudao - Erbil 

announced that the company "Dana Gas" United Arab Emirates, for the sale of the first shipment of condensate in the Egyptian market value of $ 7.2 million, under the agreement to increase gas production in Egypt. 

She said , "Dana Gas", in a statement on Wednesday, the first shipment volume reached about 150 thousand barrels, and was completed after the buyer provide a bank whereby the adoption of the payment of the transaction value for the company directly in US dollars. 

According to the statement, the first shipment to be exported directly under increased gas signed by the "Dana" with the Egyptian government in August / August 2014. The production agreement 

is scheduled to be used for the Egyptian government 's share of the cash proceeds of this shipment, the payment of arrears of the company on the Egyptian government . 

Said Patrick Elman, Chief Executive Officer of Dana Gas, according to the statement: "We can now continue to sell and export condensate shipments directly, and by maintaining the production rate at 40 thousand barrels of oil equivalent, we expect to sell up to three additional shipments during the twelve coming months. 

the Germans, that the company is having difficulty in collecting financial dues in Egypt; " it was supposed to receive a big boost from the sums to Egypt, amounting to $ 289 million this year, but this did not happen." 

since January / January 2011 revolution , Egypt suffers from scarcity especially the US dollar and foreign currencies, and increased unit The crisis over the past two years and this, with the decline in revenues from tourism and the Suez Canal. 

During the first quarter of this year, I received "Dana Gas" from Egypt about $ 13 million, equivalent to 52% of the supposedly paid during theperiod receivables, according to the statement.

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