Dana Completes Development Well in Gulf of Suez

Dana Petroleum plc (Dana) is pleased to announce it has just completed a successful development well in the Gulf of Suez area, with Zeitco, our joint venture company.

Offshore, on the East Zeit “A” platform, the A22 development well was spudded on 30 April with the Sino Tharwa Bahari 1 jack-up rig and reached a total depth of 12,051 feet maximum depth in the Kareem Marker Formation. The well targeted an undeveloped area of the field with poorer reservoir quality, and after drilling a 1,426-foot horizontal section within the Marker reservoir, has now been completed as an oil producer. Production started on 25 June, at rates around 2,000 bbls oil per day.

Dana's Managing Director in Egypt, Nick Dancer, said:
“Dana is very pleased with the continued drilling success through our Zeitco joint venture company, especially with the successful completion of the challenging A22 well. This is a significant well for extending the economic field life of the East Zeit field, which had its first oil production back in 1985 and demonstrates Dana’s commitment to invest in Egypt.”

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