Dana Gas is making progress in Egypt, where production is now about 34,000 barrels of oil equivalent a day.
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The London Court of International Arbitration made the award on Nov. 29, saying the Kurdish Regional Government had 28 days to pay Dana, Crescent Petroleum and Pearl Petroleum Co. The case sent Dana Gas shares soaring 15 percent, and centered upon the group's claim to develop and produce natural gas and oil in part of northern Iraq, an arrangement the KRG had disputed.The company's total output averaged 60,800 barrels of oil equivalent a day as of the end of the third quarter, with Egypt contributing 32,144 barrels of oil equivalent a day, according to the company.
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