(Photo From Dana Gas website)
Dana Gas, a private sector natural gas company, has announced the discovery of new gas source on the West El-Maznala, Nile Delta.
Acting CEO Rashid Al-Jarwan said in a statement that “the company is pleased to announce another successful well discovery, which will add to our production, cash flow and reserves in Egypt.”
Patrick Allman-Ward, Dana Gas’s general manager, explained that the discovery of the Begonia-1 well is one of many in 2012, continuing “a series of rich gas discoveries made last year, with the potential for fast hook up and production that helps to contribute to meeting Egypt’s gas needs.”
“We are planning to drill two additional appraisal wells in these discoveries before the end of 2013,” Allman-Ward added.
According to the statement, the company has notified the government of this discovery, and is now preparing to submit a plan as part of a development lease application .
Dana Gas’ total investments in Egypt have exceeded $1.8bn and the company is now the sixth-largest gas producer in Egypt, producing 170 million standard cubic feet per day, in addition to 4,000 barrels per day of associated condensate, and 250 tons of liquefied petrol gas a day. The company is working to further increase gas and condensate production for electric power generation and fuel supply and has a track record of expediting the tie-in of new discoveries.
This is the 25th discovery in Egypt since 2007. Estimations for the average output for the new well are 33,600 barrels per day during the first five months.
The natural gas company produces 65,000 barrels of oil equivalent per day of oil, gas and natural gas liquids from its operations in Egypt and the Kurdistan Region of Iraq.
