Dana Gas reports $157 million net profit in 2019

Dana Gas reports $157 million net profit in 2019

Revenue was $459 million (AED 1.68 billion) in 2019 compared to $470 million (AED 1.72 billion) in 2018 due to lower realised prices and lower production in Egypt partly offset by increase in production in KRI.. Pearl has also been progressing with its expansion plans in Khor Mor which will take production up to 650 MMscf/d in Q1 2022, and 900 MMscf/d in 2023.. Group production rose 5% during 2019, averaging 66,200 boepd versus 63,050 boepd in 2018.. Production was boosted by an 18% jump in output from the KRI, which reached 31,500 boepd.. The offset drops in production from Egypt, which fell 4% to 33,000 boepd versus 34,500 boepd in 2018, and the UAE, which averaged 1,000 boepd in 2019..