|
Dubai: Dana Gas, the region's first private sector natural gas firm, has announced a drilling programme for 15 wells in Egypt this year by its exploration and production subsidiary, Centurion Energy.
Ten exploration and five development wells are planned, with target depths ranging from 1,000 to 4,000 metres.
The company is currently the sixth highest gas producer in Egypt, and among the nine highest producing companies by production of barrels of oil equivalent (boe), out of the 64 companies that are active in Egypt's oil and gas sector.
"As the first private sector, regional natural gas company in the Middle East, Dana Gas' goal from the outset is to play a role in all segments of the gas value chain as a truly integrated gas company," said Rashid Saif Al Jarwan, general manager of Dana Gas.
"With more than half the world's gas reserves but a much smaller percentage of production, the region's potential for development of gas upstream is clear and necessary," he said.
"As a company from the region, by the region and for the region, Dana Gas has made a long-term commitment to play its part in helping the region's resource-holders to develop their gas reserves for the benefit of their local economies and societies.
"Today we are reaffirming our commitment to making further investments in the natural gas industry to benefit from the capabilities of Centurion, in the exploration and production field.
"In addition to investing to maximise the potential of our Egyptian assets, Dana Gas will soon be expanding into exploration and production activities in other countries in the region, and we are currently pursuing a number of opportunities of this type, in addition to other gas-related projects across the Middle East," he added.
Dr Hany Elsherkawi, president and general manager of Centurion Egypt, said the firm had achieved some operational milestones recently, including the first LPG sales from its newly commissioned Al Wastani LPG plant with capacity of 160 million cubic feet per day.
He said: "Our goal behind the drilling and exploration programme is to maximise the potential of the shallow horizons in Abu Madi zones, while proceeding with the exploration of the high potential in the deeper Sidi Salem and Oligo-cene horizons, which are currently a focus of high interest across the Egyptian gas sector, both onshore and offshore.
"The Egyptian gas sector has been growing rapidly, with a major domestic market and successful gas exports through LNG projects, and proven reserves doubling in the last five years to 70 trillion cubic feet."
|
