Dana Gas will invest $350 million in Egypt over the next 30 months and expects to receive outstanding arrears from the government by the end of 2016.
The investments include drilling nearly 40 new development wells, a similar number of workovers on existing wells, building new pipelines and debottlenecking an existing plant.
Egypt will pay Dana $185 million in arrears by the end of 2016, but added if they failed to do so, the company would recover the money by the end of 2018 by selling the government's share of condensate exports under a production agreement.
For more information about related Opportunities and Key Players visit
Egypt Oil and Gas Projects 
