Egypt: Dana Links Drilling To Dues

Dana Gas is linking the drilling of a key deepwater Mediterranean wildcat planned for 2019 to improved payments. Having received $20mn (in Egyptian pounds) on 18 December towards its dues for past gas deliveries the firm adds that it is “looking forward to further payments before year end…[enabling it] to proceed with its plans to drill the Merak deepwater exploration well” on the North El Arish Concession on the maritime border with Gaza. The company adds that it “understands that a further payment is planned to be made in US$ before year-end.” “Final preparations are underway” for the well, Dana says. (CONTINUED - 170 WORDS)