Gulf Oil and Gas accountACCOUNT

Dana Gas Achieves 12% Growth in Production in Q1 of 2014

Source: www.gulfoilandgas.com 5/15/2014, Location: Africa

Dana Gasís average quarterly net production from Egypt and KRI was 68,800 boepd, a year-on-year increase of 12% (Q12013: 61,400 boepd).

The Company has rationalized its Egyptian portfolio of assets, concentrating on its most commercial and long-term production growth opportunities in the Nile Delta and offshore Eastern Mediterranean.

The process has seen Dana Gas complete major new field tie-in work, which together with maintenance and debottlenecking work in the El Wastani Plant, will increase output capacity by 25% to 200mmscfd (an increase equivalent to 6,650 boepd) and contribute 10% to overall group production. This has been a key factor in the countryís producing assets increasing their output to 39,100 boepd, a 17% increase on its 33,400 boepd production in Q1 2013.

Dana Gas was also awarded a new Development Lease called Balsam following the discovery made in 2012, whilst simultaneously increasing its El Basant Development Lease (to cover the Allium discovery), jointly located in the West El Manzala Concession.

It has also secured an increase to its Sama Developments in the West Al Qantara Concession to include the West Sama discovery. Through Dana Gasí comprehensive gas pipeline network and available processing plants, the Allium and West Sama discoveries have already been brought on-stream in a very short space of time.

As part of this rationalization process, Dana Gas sold its entire 50% holding in the Komombo concession to Mediterra Energy for $6.3 million in cash plus working capital adjustments. The transaction is expected to be completed in the second quarter of 2014.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Acquisitions and Divestitures News in Egypt >>

United Kingdom >>  4/8/2020 - Baron Oil Plc, the AIM-listed oil and gas exploration and production company, provides the following Inner Moray Firth ("IMF") update to shareholders....
Australia >>  4/7/2020 - Origin Energy has agreed with joint venture partner Falcon Oil and Gas to increase its interest in the Beetaloo Basin joint venture by 7.5 per cent in...

Liberia >>  4/7/2020 - In line with its strategy of actively managing its asset portfolio and its objective to divest 5 B$ on years 2019-2020, Total is pursuing the divestme...
Namibia >>  4/7/2020 - Global Petroleum Limited has come to an agreement to licence pre-existing 3D seismic data in its offshore Namibia Block, 2011A (PEL0094). This key dat...

New Zealand >>  4/6/2020 - One petroleum exploration permit has been granted for Block Offer 2018. The successful bid was granted to Todd Exploration Management Services Limited...
Australia >>  4/3/2020 - Oilex Ltd is pleased to announce that the date for the satisfaction of the conditions precedent in regard to the acquisition of 27 Petroleum Retention...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 |

Oil & Gas Projects in Egypt >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.