Dana Gas PJSC announced unaudited consolidated earnings results for the second quarter and earnings and operating results for the firs half year ended 30 June 2018. In the first half 2018, the company reported revenue of $236 million against $222 million a year ago. Profit before income tax was $43 million against $40 million a year ago. Profit attributable to the shareholders was $24 million or $0.003 per share against $23 million or $0.003 per share a year ago. Purchase of property plant and equipment was $15 million against $25 million a year ago. Expenditure on intangible assets was $12 million against $2 million a year ago. Revenue increased 6% to $236 million (AED 865 million) as a result of higher realized prices mainly for condensate, which contributed $33 million (AED 121 million) to company's top line, and helped offset a production decrease in Egypt and the UAE, which together had an impact of $19 million (AED 70 million). Net cash generated from operating activities was $142 million compared to $186 million a year ago.

For the quarter, the company reported revenue of $116 million against $104 million a year ago. Profit before income tax was $20 million against $18 million a year ago. Profit attributable to the shareholders was $10 million or $0.002 per share against $12 million or $0.002 per share a year ago. Net cash flow from operating activities was $123 million against 169 million a year ago.

Group average production in first half of 2018 was 63,600 barrels of oil equivalent per day, down 6% from 67,550 boepd a year ago, due to lower output from Egypt and the UAE.