Dana Gas makes new Egypt gas finds

07 March 2010

Dana Gas discovers gas in Nile Delta

The UAE’s Dana Gas has made two new gas discoveries in Egypt’s Nile Delta.

The first discovery was made at the El-Panseiya-1 well in the company’s West El-Manzala concession. Dana Gas found up to 11 metres of gas in the well and produced 10 million cubic feet a day (cf/d) of gas under test conditions. The company’s estimates that the well holds recoverable reserves of 8 to 13 billion cubic feet of gas, it said in a 7 March statement.

The second discovery, at the South Faraskour-1 well, was also made in the West El-Manzala concession, where Dana Gas found up to 20 metres of gas. The well produced 16.3 million cubic feet a day of gas under test conditions Dana Gas estimates that recoverable reserves of gas and condensates at the well are between 27 and 57 billion cubic feet.

Both discoveries are expected to be tied in to the Company’s nearby El-Wastani gas processing plant by the end of 2010.

Dana Gas made eight discoveries from twelve exploration wells in 2009, increasing proven and probable reserves by 40 per cent to 132 million barrels of oil equivalent.



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