Dana Gas, the largest private sector natural gas company in the Middle East, recorded a slight increase in net profit despite a decline in revenue during the first half of 2025.
Net profit increased by 2.6 per cent to AED 270 million (US$73.5 million), supported by robust operations in the Kurdistan Region of Iraq (KRI) and fresh investment activity in Egypt, despite facing lower prices. This compares to a net profit of AED 263 million (US$71.6 million) in the first half of 2024.
Revenue for the period fell to AED 627 million (US$170.7 million), down from AED 696 million (US$189.5 million) in the same period last year. The company attributed this decrease to lower realised hydrocarbon prices and declining production in Egypt, which was partly balanced by increased output and improved pricing in the KRI.
Dana Gas reported further advancements in its KM250 expansion and Chemchemal development projects in KRI. In Egypt, the company’s initial well drilled under its new investment plan yielded positive results.
Richard Hall, CEO of Dana Gas, stated: “Our proactive and hands-on management style is beginning to show results, keeping us closely engaged with operations and focused on delivery. Our teams in KRI have consistently performed well, and progress on the KM250 project continues swiftly. This approach is accelerating project completion.
“In Egypt, we have launched a new investment programme that represents a significant step for both Dana Gas and the country’s energy sector. While early signs are encouraging, it is critical that government partners facilitate timely payments and expedite permit approvals to sustain the programme and unlock more of Egypt’s gas resources.
“We are confident about the prospects for the second half of the year and remain committed to execution, value creation, and maintaining dividend payments to our shareholders.”
Scheduled and necessary maintenance work at the Khor Mor facility in KRI during April caused a temporary dip in output in the second quarter. However, production remained robust in the first half of 2025, with daily gas output surpassing 500 million standard cubic feet per day (MMSCFD).
