|
Dubai: Dana Gas, an explorer and producer based in Sharjah, said yesterday it has made a new gas and condensate discovery in the West Manzala concession in Egypt.
Tests showed a production rate of 16.5 million cubic feet of gas per day (2,800 barrels of oil equivalent), and 330 barrels of condensate per day.
"Centurion Petroleum Corporation, the upstream division of Dana Gas, drilled the Dabayaa-1 well to a total depth of 3,001 metres and encountered a hydrocarbon-bearing interval that extends over a 10 square kilometre area.
Estimates of recoverable reserves from this new discovery are being evaluated," the company said.
Dana Gas said it will fin-alise the new field's development plan soon and start production from Dabayaa-1 by November. "We are very excited about this gas discovery which confirms our high expectations for the hydrocarbon potential of the Abu Madi formation in our concession," said Rashid Saif Al Jarwan, general manager of Dana Gas."We are in a very favourable position within the Nile Delta and this discovery is opening up more hydrocarbon prospects to be drilled on the same concession," he said.
Dana is currently the sixth largest natural gas producer in Egypt, where about 64 companies are active in exploration and production.
The country has doubled its total gas reserves in the last five years to over 70 trillion cubic feet.
Dana said it expects to drill a total of 12 exploration wells in Egypt before the end of 2007.
|
