Dana Gas, the Center East’s largest regional non-public sector pure gasoline firm, reported a marginal enhance in internet revenue regardless of decrease income within the first half of 2025.
Web revenue rose 2.6 per cent to AED 270 million (US$73.5 million) attributable to robust operation in Kurdistan Area of Iraq (KRI) and new funding momentum in Egypt regardless of decrease costs. The corporate’s internet revenue in H1 2024 was AED 263 million (US$71.6 million).
Dana Gasoline studies marginal revenue rise
Income for the interval dropped to AED 627 million (US$170.7 million), in comparison with AED 696 million (US$189.5 million) within the corresponding interval final. The corporate attributed this fall to decrease realised hydrocarbon costs and Egypt manufacturing declines, which was partially offset by increased KRI output and improved pricing in Egypt.
The corporate stated it has made additional progress on the KM250 growth and Chemchemal growth initiatives in KRI, whereas in Egypt, the drilling of the primary nicely beneath its new funding programme met with a profitable consequence.
Richard Corridor, CEO of Dana Gasoline, commented: “We are actually seeing the results of a proactive, hands-on method throughout the enterprise, one which retains us near the operations and targeted on supply. Within the KRI, our operational groups have maintained glorious efficiency, and KM250 continues to maneuver ahead at tempo. Our hands-on method helps us speed up supply of the undertaking.
“In Egypt, we’ve got now kicked off our new funding programme, and it’s an essential step ahead, each for Dana Gasoline and for Egypt’s vitality sector. Whereas early outcomes have been promising, it’s important that our governmental companions guarantee well timed funds and allow pressing allow approvals to proceed this system and unlock extra of the nation’s gasoline potential.
“We’re very optimistic about what the second half of the 12 months holds and stay targeted on execution, worth creation and sustaining dividend funds to our shareholders.”
Deliberate and important upkeep actions on the Khor Mor facility in KRI in April quickly diminished output throughout Q2, however manufacturing remained robust in H1 2025, with day by day gasoline output exceeding 500 million commonplace cubic toes per day (MMSCFD).
Dana Gasoline stated it has taken a extra proactive and hands-on method to supply together with its companions within the KM250 growth undertaking. This has accelerated progress towards first gasoline. The undertaking stays on a complicated schedule and, as soon as operational, will add 250 MMscfd of processing capability, rising Pearl Petroleum’s whole output capability by 50 per cent and considerably boosting Dana Gasoline’ manufacturing and money stream.
In Egypt, Dana Gasoline has made strong progress in delivering its US$100 million funding programme, following the signing of the Consolidated Concession Settlement in 2024. In July, it introduced the profitable drilling and completion of Begonia-2, the primary of 11 deliberate wells, confirming 9 billion cubic toes (bcf) of gasoline reserves and anticipated manufacturing of 5 MMSCFD.
In parallel, recompletion of the Balsam-3 nicely is underway, with anticipated reserves of 4 bcf and anticipated further manufacturing of three MMSCFD.
Group manufacturing averaged 51,000 barrels of oil equal per day (boepd) in H1 2025, in comparison with 55,250 boepd throughout the identical interval final 12 months. Regardless of deliberate upkeep actions in KRI, manufacturing elevated by 3 per cent to 38,550 boepd.
In Egypt, manufacturing declined by 29 per cent to 12,450 boepd from 17,650 boepd in H1 2024, primarily attributable to pure discipline declines. Nevertheless, early outcomes from Begonia-2 and Balsam-3 are anticipated to help a restoration in manufacturing volumes in the long run.