Dana Gas collects $73.7m from Egypt, Kurdistan

Dana Gas has collected a total of $73.7 million in receivables from its operations in Egypt and the Kurdistan region of Iraq so far in 2013, the United Arab Emirates-based company said on Sunday.

Of the total, $41.3 million came from Egyptian operations and $32.4 million from Kurdistan.

"We are pleased to see that our strategy and efforts for addressing our receivables position in Egypt and the Kurdistan Region of Iraq is yielding results," Rashid Al Jarwan, acting chief executive officer of Dana Gas, said in a statement.

Delays getting paid for supplies of natural gas to Egypt and Kurdistan forced the company to restructure its debt late last year, after it failed to pay a $920 million Islamic bond on maturity in October.

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