Other stories: World’s 10 largest oilfield technology companies | World’s 10 largest petrochemicals companies | Oil industry giants: ADNOC | Oil industry giants: Saudi Aramco | Top 10 MENA Region mega projects | Top 10 billion dollar oil deals of the summer | 2009’s winners and losers in the oil industry | 10 events in oil’s history that shook the world | Top 10 Gulf mega projects | Top 10 largest publicly traded oil companies | World’s 10 largest oilfield services companies | World’s 10 largest oil and gas contractors
Dana Gas has announced that it has successfully achieved its end of year production target for Egypt operations by delivering a production rate in excess of 40,000 barrels of oil equivalent per day (boepd) on December 31 2009.
In a statement the Sharjah-based company said that Dana Gas Egypt has delivered an average production rate of 34,750 boepd during 2009, an increase of 27% compared to2008 on the end of year production rate and a 20% increase on the average daily production rate.
“We are very pleased with the 2009 operational performance of our business in Egypt. Meeting the 40,000 boepd target is a tribute to the Dana Gas teams and their focus and ability to monetize the value from our acreage.” Dana Gas CEO Mr. Ahmed Al Arbeed, said.
The company also announced the ninth gas discovery from the Orchid-1 well. This new discovery follows its eight gas discoveries in the country announced throughout 2009 (namely Salma-1, West Manzala-2, Azhar-1, Tulip-1, Sharabas-1, Sama-1, Faraskur-1 and Marzouk-2).
Dana Gas is the sixth highest natural gas producer in Egypt.
