Dana Gas finds reserves in Egypt

13 October 2009

Company increases oil production by 20 per cent in 2009

The UAE’s Dana Gas has made two discoveries of gas reserves totalling 86 billion cubic feet in the Nile Delta in Egypt.

The Faraskur 1 well at the company’s West el-Manzala concession produced 12 million cubic feet a day (cf/d) of gas during testing and holds an estimated 73 billion cubic feet of reserves.

The Marzouk 2 well, also in the West el-Manzala concession, produced 10 million cf/d of gas.

Dana Gas estimates that the well holds 13.4 billion cubic feet of gas reserves.

Dana has increased daily oil production from its Egyptian fields by more than 20 per cent in 2009, compared with the same period in 2008.

Its total production is now 37,000 barrels a day (b/d) of oil equivalent compared with 28,000 b/d of oil equivalent in 2008.

It expects to produce 40,000 b/d of oil equivalent by the end of 2009.

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