Abu Dhabi-listed Dana Gas said on Tuesday that it had received $53 million from the Egyptian government out of a total of $330 million owed to the company by Cairo.
Payment of $42 million was received in US dollars and the balance in the form of Egyptian pounds, Dana said in a statement to Abu Dhabi's bourse.
Including the latest payment, Dana Gas has received a total of $130 million from the Egyptian authorities this year, it said.
The Egyptian government has committed to work with the company on a plan to repay the remainder of its debt over an agreed time frame, Dana said without elaborating.
Egypt will complete payment this week of $1.5 billion of the $6.3 billion which it says it owes oil firms, an Egyptian state executive said on Monday.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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