Dana Gas continues exploration success in Egypt

Sharjah-based Dana Gas, the Middle East’s largest private sector natural gas company, has confirmed two more gas discoveries at its concessions in the Egyptian Nile Delta: Sharabas-1 and Sama-1.

These are the latest in a string of finds resulting from the company’s aggressive drilling campaign in Egypt, which began in 2008.

The Sharabas-1 discovery, located in the West El Manzala concession, tested at 7 million standard cubic feet per day (MMscf/d) of gas with 198 barrels per day (bbl/d) of condensate, according to a statement reported by Middle East Company News.

The estimated reserves for this discovery are about 28 billion cubic feet (bcf) of gas plus the associated condensate, the statement added.

The Sama-1 discovery, located in the West El Qantara concession, tested at 13 MMscf/d of dry gas from a reservoir of Messinian age. The estimated reserves for this discovery are about 48 bcf gas.

Commenting on the latest discoveries, Dana Gas CEO Ahmed Al Arbeed said: “The Sharabas-1 and Sama-1 discoveries will boost Dana Gas’ production and profitability, and will take us closer to achieving our target production of 40,000 barrels of oil equivalent (boe) per day by the end of the year – a target that we are already well on the way to achieving.

”I am confident that the Dana Gas team will also maintain our excellent delivery rates and bring these discoveries on stream soon.”

Dr Hany Elsharkawi, President of Dana Gas Egypt added the exploration programme is ”continuing to progress well on all fronts.”

“In addition to the Sharabas-1 and Sama-1 exploration discoveries, Dana Gas has also successfully drilled and tested an important appraisal location at Salma Delta-2 in the West El Qantara concession, and good productivity has also been confirmed at the previously announced Tulip-1 discovery, also in the West El Qantara concession,” he added.

Source: Arabianbusiness