The finances of Dana Gas were given a shot in the arm this week as the company received payments worth nearly US$50 million (Dh183.6m) for gas produced in the Kurdistan region of Iraq.
The payout comes as political developments in Iraq and Egypt cast doubt over future payments, after outstanding receipts worth hundreds of millions prevented Dana from repaying a maturing bond in October.
Dana, which produces natural gas and condensate in the region, on Sunday received $48m - 40 per cent of the $120m paid out to the joint venture it operates under - from the central government.
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