Dana Gas has reported a drop in profits in its first quarter results on the back of the oil price decline.
The energy firm said it had made a profit of $12million in the first quarter, in comparison with a profit of $45million a year previously.
The 73% drop for the company, which has interests in Egypt, the United Arab Emirated and the Kurdistan region of Iraq, said the fall had been caused by a weaker oil price.
Revenue for the first quarter was $115million a decrease from the $180million for the year before.
Production has remained steady with an average of 68,700 barrels of oil equivalent per day (boepd) from both its Egyptian and Kurdistan region of Iraq assets.
The same time a year previously production was only slightly higher at 68,800 boepd.
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