Dana Gas has announced two gas discoveries in the Nile Delta, Egypt.
The first discovery was at El Panseiya-1 in the West El Manzala Concession, which encountered 11 metres of net pay in the Kafr El Sheikh formation, and produced 10 million standard cubic feet per day of dry gas.
“Our team in Egypt continues to deliver tremendous results. We are delighted that these two exploration wells have been successful. They build upon Dana Gas Egypt’s outstanding 2009 achievement of eight discoveries from twelve exploration wells, which resulted in a 40% increase in proved plus probable (2P) reserves to 132 million barrels of oil equivalent at the end of the 2009,” Ahmed Al Arbeed, Dana Gas CEO revealed.
The second discovery, South Faraskour-1, encountered 20 metres of net pay in the Abu Madi formation and 1.4 metres in the Kafr El Sheikh formation.
“These two wells are an excellent start to 2010. We still have a sizeable portfolio of drillable prospects and our exploration activity will continue throughout the year, as will our development activities,” said Dr Hany El Sharkawi, Dana Gas Egypt president.
