Dana Gas, the Middle East’s largest private sector natural gas company, posted a net profit of AED379 million (USD 103 million) for the first nine months of 2025, compared to AED410 million (USD 112 million) in the same period last year.
Revenue reached AED935 million (USD 255 million), down from AED1.048 billion (USD 286 million) in 2024. The 8% year-on-year decline was mainly attributed to lower production levels in Egypt and softer Brent crude prices averaging USD 71 per barrel versus USD 83 per barrel in 2024, partially offset by improved gas pricing under Egypt’s new concession agreement.
The company maintained a strong operational performance, driven by excellence in the Kurdistan Region of Iraq (KRI) and the early completion of the KM250 expansion project in October 2025. The new facility adds 250 million standard cubic feet per day (MMscf/d) of gas processing capacity at the Khor Mor field, raising total installed capacity by 50%. Once fully operational, the project is expected to increase revenue by up to 35%, representing a landmark achievement for private energy infrastructure in Iraq and underlining Dana Gas’s ability to execute complex developments.
Progress in Egypt also continued under the USD 100 million investment programme, with drilling and recompletion activities advancing after the successful outcomes of the Begonia-2 and Balsam-3 wells earlier this year.
Commenting on the results, Richard Hall, CEO of Dana Gas, said: “Despite the softer oil price environment, our business remains robust, underscored by the completion of the KM250 project—a major milestone that will enhance production and positively impact our financial results in the coming years. Alongside this, our ongoing investments in Egypt and the Chemchemal field in the KRI reflect our commitment to sustainable growth. We remain focused on maintaining strong operational performance and delivering consistent dividends to our shareholders.”
