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دانة غاز DANAGAS Dana Gas reports $ 139 million ( AED 511mm ) net profit in H1 2021 Gross Profit increased by 133 % to $ 91 million ( AED 333mm ) H1 2021 Highlights Revenue increased by 19 % to $ 216 million ( AED 792mm ) Average group production of 64,000 boepd , driven by 8 % increase in KRI output KRI and Egypt collections reached $ 185 million ( AED 678mm ) , a five - year high . Operational cash flow increased by 97 % to $ 146 million ( AED 536 mm ) Operations continue uninterrupted despite the ongoing Covid - 19 pandemic with stringent health and safety protocols in place across all assets Dana Gas prevails in arbitration against IPR Wastani regarding the decision not to sell its onshore asset in Egypt . Sharjah , UAE ; 11 August 2021 , Dana Gas PJSC ( the " Company " ) , the Middle East's largest regional private sector natural gas company , today announced its financial results for the half year ended 30 June 2021 . The Company has delivered one of its strongest half - yearly results with H1 2021 net profit of $ 139 million ( AED 511mm ) compared to a loss of $ 19 million ( AED 69mm ) in H1 2020. Excluding the reversal of impairment related to Egypt assets , the Company posted an adjusted net profit of $ 61 million ( AED 225mm ) versus an adjusted net profit of $ 18 million ( AED 66mm ) in H1 2020 , an increase of 239 % reflecting higher oil prices and improved operational performance . Revenue for the first six months of 2021 was up by 19 % and stood at $ 216 million ( AED 792mm ) as compared to $ 181 million ( AED 664mm ) in H1 2020. The increase was due to higher realized prices during the period . As a result of the increase in net profit , the Company's retained earnings turned from accumulated losses of $ 20 million to positive $ 142 million , which will underpin the Company's ability to pay dividends in the future . On 23 April 2021 the Company terminated its agreement for the sale of its Egyptian assets and will therefore continue to own and operate them in order to maximise returns for its shareholders . This will involve carefully monitoring expenditure and ensuring drilling and workover activities are value generative . Dana Gas Egypt's operational cash flow increased in 1H 2021 by 175 % to $ 80 million reflecting the increase in oil price and higher collections during the period . This reinforces the correctness of the Board decision not to sell the assets . 1