Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi held talks with Dana Gas CEO Richard Hall to discuss the company's activities in Egypt, according to a statement.

They also reviewed the UAE-based company’s plans to expand its exploration and production (E&P) operations and increase natural gas production rates from its onshore concessions in the Nile Delta.

Additionally, the meeting addressed future drilling and investment programs for the coming phase within the framework of the ministry's strategy to boost domestic oil and gas production and strengthen partnerships with investors.

During the meeting, Badawi affirmed that the government's success in settling foreign partners' dues reflects a strong message of confidence to investors, highlighting its commitment to creating a stable and attractive investment climate.

He also asserted the ministry’s full support to accelerate drilling programs, increase production from existing fields, and expedite the development of new discoveries. It will also help foreign partners overcome any possible challenges to ensure the swift implementation of investment programs and maximize the utilization of natural resources.

For his part, Hall outlined the company’s outstanding results in its latest drilling programs, which contributed to increasing its proven gas reserves by between 20% and 25%, allowing it to add two new wells to its exploration program.

Earlier this month, Dana Gas received additional payments of AED 79 million ($21.5 million) from the Egyptian government, as all the company's overdue receivables in Egypt have been fully settled.