UAE’s Dana Gas discovers new gas source in Egypt
06 Sep 2010
The Middle East's first private-sector natural gas company Dana Gas PJSC has announced a new gas discovery in the Nile Delta in Egypt, its fourth gas find in the country in 2010.
The new discovery has been made in South Abu El Naga-1 ST well located in the West El Manzala Concession, which ecountered 19.8 metres of productive portion in the Abu Madi formation, and 4.8 metres in the Kafr El Sheikh formation, a statement said.
''The discovery at the South Abu El Naga-1ST well adds significantly to the company's hydrocarbon reserves,'' Hany Elsharkawi, president of Dana Gas Egypt said.
A test carried out in the Abu Madi formation yielded a production rate of 19.4 million standard cubic feet per day of gas and 1,160 barrels per day (bpd) of condensate, the company said.
The preliminary estimates for the South Abu El Naga-1ST indicate gas reserves in the range of 50 to 90 billion standard cubic feet, with 1 to 2 million barrels of associated condensate. Dana Gas said that the discovery will be further appraised, with development options to be studied subsequently.
The three other previously announced gas discoveries during the year are El Pansieya-1, South Faraskur-1 and Ward Delta-1. Last year Dana Gas made eight gas discoveries in Egypt.
Dana Gas CEO Ahmed Al Arbeed said, ''Our dedicated teams in Egypt continue to deliver excellent results. We are very pleased that this well has been successful. Dana Gas Egypt's ability to develop its discoveries in a timely fashion is delivering gratifying increases in our production volumes for 2010.''
The company also announced the commencement of new production in August from the Sharabas and Faraskur fields via its El Wastani gas plant, bringing the total output from Egyptian fields to 230 million standard cubic feet per day, and additionllay 7,000 bpd of condensate and LPG.
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