Lower Egyptian production and softer Brent prices weighed on Dana Gas results, as revenue for the first nine months of 2025 fell 10.8 per cent to AED 935 million (US$255 million) against AED1,048 million (US$286 million) for the same period in the previous year.
Brent prices were at US$83 level last year, and have fallen to US$71 per barrel.
As of 30 September 2025, Dana Gas’ cash balance stood at AED671 million (US$183 million), including AED550 million (US$150 million) held at the Pearl Petroleum level. Cash at the corporate level stood at AED66 million (US$18 million).
Highlight of the quarter was the completion of the KM250 expansion project in October 2025, which was achieved ahead of schedule in the Kurdistan Region of Iraq (KRI).
https://www.arabianbusiness.com/gcc/uae/dana-gas-says-pearl-petroleum-has-initiated-arbitration-against-enerflexThe new facility adds 250 million standard cubic feet per day (MMscf/d) of gas processing capacity to the Khor Mor field, increasing the site’s total installed capacity in the KRI by 50 per cent. When operating at full capacity, this expansion is expected to boost Dana Gas’ revenue by up to 35 per cent.
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.
“Alongside this, our continued investment programme in Egypt, and the development of Chemchemal field in the KRI, demonstrates our commitment to growth. 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.”
KM250 is one of the most significant private energy infrastructure achievements in Iraq in recent years and demonstrates Dana Gas’s capability to deliver complex projects.
The company also maintained steady progress in Egypt under the US$100 million investment programme, where drilling and recompletion activities are ongoing following the successful results of Begonia-2 and Balsam-3 wells earlier this year.
Group production for 9M 2025 averaged 50,900 barrels of oil equivalent per day (boepd), compared to 55,300 boepd in 9M 2024. KRI production averaged 38,600 boepd, an increase of 1 per cent, supported by consistent demand from local power generation.
In Egypt, production declined by 28 per cent to 12,300 boepd from 17,100 boepd, primarily due to natural field declines. The investment programme will reverse the current decline and restore growth in 2026.
