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Dana Gas strengthens Egypt expansion plans after full settlement of government receivables
via Egypt Today2 min read
Dana Gas announced the full settlement of all outstanding receivables from the Egyptian government, totaling an additional AED 79 million $21.5 million. This resolution, alongside a return to regular payments, has bolstered the company's confidence in its Egyptian operations, where it is pursuing a $100 million investment program to stabilize production and restore growth. The company's latest drilling campaign in Egypt exceeded expectations, identifying an estimated 10 billion cubic feet of gas resources, significantly higher than the initial projection of 3 billion cubic feet. Furthermore, Dana Gas reported potential for an additional 12 billion cubic feet of prospective resources within its Nile Delta concession. Production in Egypt increased by 4% year-on-year in the first quarter of 2026, reaching an average of 13,060 barrels of oil equivalent per day, marking the first production growth in the country since 2017. In 2025, the company drilled four wells and performed workovers on three others, adding approximately 30 million standard cubic feet of gas per day to production and increasing reserves by 36 billion cubic feet. Richard Hall, Chief Executive Officer of Dana Gas, stated that the settlement and timely payments are a significant milestone, and the drilling results highlight the quality of their assets and the available development and exploration opportunities. Dana Gas plans to drill four more wells by the end of 2026 and acknowledged the ongoing support from Egy
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This summary was AI-generated from a story originally published by Egypt Today.
President Abdel Fattah El-Sisi has reviewed plans to enhance Egypt鈥檚 social protection system, expand early childhood care services, and improve support for vulnerable families. During a meeting with Prime Minister Mostafa Madbouly and Minister of Social Solidarity Maya Morsy, the President discussed efforts to modernize social support programs and introduce an integrated national framework for protection and economic empowerment. The proposed National Social Protection Framework aims to consolidate state-led initiatives supporting low-income households, reducing multidimensional poverty, and improving access to essential services. The Ministry of Social Solidarity is collaborating with various entities to expand economic empowerment programs. El-Sisi emphasized balancing social justice with economic sustainability and directed the preparation of a unified social protection program for targeted support. The Takaful and Karama cash-support program, serving approximately 4.7 million families, was also discussed, with calls for continued monitoring and annual impact assessment. The President stressed helping beneficiary families achieve economic self-reliance and improving public social spending efficiency. Early childhood care and nursery services were a key focus, with plans to increase nursery capacity, improve quality, and simplify licensing. A nationwide survey is underway to identify areas needing more facilities, while existing nurseries are being improved and staff skill
President Abdel Fattah El-Sisi has directed the establishment of a single, unified social protection program in Egypt to enhance the efficiency of state social spending and protect vulnerable populations from poverty. This directive followed a meeting with Prime Minister Mostafa Madbouly and Minister of Solidarity Maya Morsi to review the national subsidy framework. Morsi presented the upcoming National Social Protection Framework, which aims to balance social justice with long-term economic sustainability. President Sisi also called for strict oversight of the Takaful and Karama cash-transfer program, which supports 4.7 million families, and requested a comprehensive annual report on its socio-economic impact. Additionally, the Ministry of Solidarity is launching a financial empowerment initiative with the private sector and civil society. In human development, Morsi outlined a plan to expand early childhood care infrastructure for children aged zero to four, including building new nurseries and streamlining licensing. President Sisi ordered a comprehensive development roadmap for the nursery sector and the creation of specialized child counseling and psychosocial support centers. The modernization of Egypt's foster care network was also reviewed, with President Sisi emphasizing the state's role in ensuring the psychological and social stability of foster children through periodic field follow-ups.
Egypt and the United Kingdom are working to finalize a customs tariff review to boost agricultural trade and investments, according to a Foreign Ministry report. This follows the Egyptian-British Partnership Council meeting on June 18, co-chaired by the Egyptian Minister of Foreign Affairs and the British Secretary of State for Foreign, Commonwealth and Development Affairs. Both ministers highlighted their strong bilateral partnership, focusing on political, economic, and cultural cooperation under the Egypt-UK Partnership Agreement. They agreed to expand cooperation in green growth, climate action, and clean energy transition. Additionally, they emphasized strengthening migration management, addressing irregular migration's root causes, and intensifying efforts against cross-border organized crime. Discussions also covered regional and international security issues, including the Palestinian cause, the conflict in Sudan, maritime security in the Strait of Hormuz, and geopolitical volatility in the Horn of Africa.