| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: OIL & GAS PRODUCERS |
Dana makes second gas find in Egypt |
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Wed 10 Feb 2010
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LONDON (SHARECAST) - Dana Petroleum has made a second gas discovery in the West El Burullus concession, offshore Nile Delta, Egypt.
The company, which owns the concession 50:50 with French operator GDF Suez, has drilled two wells there and made two discoveries. It says the area contains ‘numerous’ additional prospects at both shallow and deeper horizons.
The Papyrus-1X well, drilled in a water depth of about 20m to a total measured depth of 1990m, encountered good quality gas bearing channel sands.
It flowed at rates of up to 33 million standard cubic feet per day with 442 barrels of condensate per day.
‘Dana is hugely encouraged to have found two new gas fields with its first two wells in this prolific region,’ said chief executive Tom Cross.
‘The Papyrus discovery reinforces the attractiveness of other prospects already identified within the West El Burullus concession, including larger targets at the deeper Miocene and Oligocene levels.’
Last month, Dana said it expects production for 2010 to average between 37,000 and 41,000 barrels daily, compared to production in the year just ended of 38,700 barrels.
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