Dana Gas makes new Egypt oil find

13 January 2010

UAE exploration company now plans further exploration in Komobo concession

The UAE’s Dana Gas has made a oil discovery at its Komobo exploration and production concession, in the south of Egypt.

The company drilled a new well, Al Baraka-4, on 5 December 2009 to a depth of 1,470 metres. Tests showed an oil reservoir 16 metres deep, which produced 220 barrels a day (b/d) of oil through natural reservoir pressure and 1,300 b/d of oil when artificial lift techniques were used to boost production, according to a statement issued by Dana Gas.

Dana Gas says that it will now expand its exploration programme at the Komobo concession.

The company increased average 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 topped 37,000 barrels a day (b/d) of oil equivalent in October 2009, compared with 28,000 b/d of oil equivalent in 2008. The company wants to raise its overall production in the country to 40,000 b/d.

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