(MENAFN)A 41 percent improvement in first three months profit to USD24 million as it increased production in the Kurdistan region of Iraq (KRI) were proclaimed by Dana Gas, the UAE energy company.
The company in a stock exchange filing stated that overall revenues increased 9 percent to USD106 million in comparison to the preceding year.
A decrease in finance costs aided to increase the Abu Dhabi-listed company’s bottom line.
Dana Gas CEO Patrick Allman-Ward further stated that “In the KRI we are moving ahead with our expansion plans to significantly boost production,” saying that this will add up positively to our top and bottom line.
Group production in the first three months hovered amid 64,900 barrels of oil equivalent per day (boepd), a 2 percent boost from a year earlier.
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