Dana Gas Says To Recover Overdue Egypt Payments By 2018

Dana Gas also said it was expecting a payment by Egypt's petroleum sector by September but did not provide an exact amount.

In Kurdistan, Dana reiterated that it had not received any significant payment since July 2013. The company said in July that a London tribunal had ordered the Kurdistan Regional Government (KRG) to restore previous regular payments as of March 21 until the case is concluded.

"Clearly we cannot be specific about other plans we have in place but the underlying fundamentals of the company are sound and we have increased production and increased revenues and profits," Allman-Ward said.

Revenues for the second quarter were 685 million dirhams, up from 528 million.

Dana said its average overall production volume was up 17 percent to 72,200 barrels of oil equivalent per day.

The company's operations in Kurdistan are continuing normally with no security threats so far, Allman-Ward said.

"That production of gas and other products is used to power generation and that is key to keeping the lights on in Arbil and other cities in Kurdistan," he said.