Abu Dhabi – Mubasher: Dana Gas generated net profits valued at AED 379 million ($103 million) in the first nine months (9M) of 2025, compared to AED 410 million ($112 million) in 9M-24.
The group reported lower revenues at AED 935 million ($255 million) at the end of September 2025, versus AED 1.04 billion ($286 million), according to the financial results.
Dana Gas attributed the annual drop to lower Egyptian production and softer Brent prices ($71/bbl vs $83/bbl), partly offset by higher gas prices under the new concession agreement in Egypt.
However, the overall performance during the period remained strong, backed by continued operational excellence in the Kurdistan Region of Iraq (KRI) and the early completion of the KM250 expansion project last October.
When operating at full capacity, the project is expected to boost the group’s revenue by up to 35%.
Under the $100 million investment program, Dana Gas maintained steady progress in Egypt, where drilling and recompletion activities are ongoing following the successful results of Begonia-2 and Balsam-3 wells.
Richard Hall, CEO of Dana Gas, commented: “Despite a lower oil price environment, our business has remained resilient, marked by the significant completion of KM250—a major milestone that will enhance our production profile and deliver positive financial impact in the coming years.”
“We also remain focused on maintaining sustainable dividends to our shareholders as we build on these achievements and continue our strong operational and financial performance,” Hall added.
At the end of June 2025, the ADX-listed company posted 1% year-on-year (YoY) higher net profits at $73 million (AED 270 million).
