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Dana Gas makes new gas discovery

Sharjah, December 25, 2007

Dana Gas, the Middle East's first and largest regional private-sector natural gas company, has discovered a new gas well.

The new well is drilled in its Egyptian concessions, adding a  further new well  to what  were already considered important earlier discoveries by the company in Egypt’s Nile Delta, first announced last August.

The Dabayaa-2 delineation well was drilled by Centurion Petroleum Corporation, the upstream division of Dana Gas in Egypt, on the eastern side of the West Manzala concession, in order to appraise the Dabayaa-1 discovery well in the Lower Abu Madi Sandstone formation, said an official spokesman.

The well was drilled to a total depth of approximately 3,000 metres and encountered gas bearing zones in both the upper and lower Abu Madi formations.  The Lower Abu Madi formation was tested and found to flow at a gas rate of over 10 million cubic feet per day, and 240 barrels per day of condensate, and will provide a further boost to Dana Gas production and revenues from Egypt.

“We are very pleased with the results we obtained from Dabayaa-2, which confirm our high expectations for the potential of the Abu Madi formation in this block,” said Dana Gas Egypt country director Dr Hany El-Sherkawi.

“The Lower Abu Madi formation was tested previously, but this is the first time that we have been able to confirm the productivity in the Upper Abu Madi formation,” he continued.  “The gathering pipe line from Dabayaa-2 is under construction, and the well should be flowing on-stream before the end of December,” added Dr El-Sherkawi.

Dana Gas is the sixth highest natural gas producer in Egypt from among the 64 companies operating in the country.  A report this week by the Middle East Economic Survey (MEES) confirmed that Dana Gas was the only private company from the region to make new Middle East oil and gas discoveries in 2007, with important discoveries already announced from wells drilled earlier this year including: El-Wastani EWW-2, West Manzala-1, and Komombo -1, which was re-named “Al-Baraka” by the Egyptian Petroleum Minister, HE Eng. Sameh Fahmy.

Dana Gas is currently also leading a consortium to build and operate the Gulf of Suez Gas LPG  Plant, in partnership with the Egyptian Natural Gas Holding Company (EGAS) and the Arab Petroleum Investment Corporation (APICORP), with construction on schedule for the first quarter of 2008. – TradeArabia News Service




Tags: Dana Gas | LPG | EGAS |

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