Middle Eastern energy firm Dana Gas says it is still owed around $600million for fuel supplied to crisis-torn Egypt and Kurdistan.
Egypt admitted earlier this month it was $6billion behind in payments to foreign oil and gas firms, but was looking to negotiate a repayment structure to encourage further investment into the country.
But while talks are ongoing, Dana is still due around $290million for gas supplied to the crisis-torn country – of which more than $200million is now overdue.
“Egypt is going through a rough period right now, but it will come good,” Dana chief executive Patrick Allman Ward said.
“It’s coming in, but it is not coming in quickly enough.”
The late payments have been exacerbated by delays from Kurdistan, which come to around $430million – with around $380million overdue – and which have caused Dana to miss a bond redemption.
Dana have yet to restart their recently repaired Khor Mor liquefied petroleum gas plant in the country due to a lack of buyers.