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Dana Gas Exceeds 2007 Production Goals in Egypt

Source: www.oilegypt.com 1/6/2008, Location: Africa

Dana Gas has announced an exit rate of 32 thousand barrels of oil per day equivalent for 2007, exceeding company expectations. The early production from two new discoveries has contributed substantially to the favourable production rate and brings significant development potential to Egypt.

The Al Baraka discovery well has produced the first oil ever in Upper Egypt. In the short period of four months from discovery to first production, the first shipment of oil was delivered to the Assyut Refinery on December 27. The discovery was hailed by the Egyptian Petroleum Minister, H.E. Eng. Sameh Fahmy, who visited the site and named the new field “Al-Baraka” (meaning “blessing” in Arabic). The Minister was accompanied by General Samir Yousif, Governor of Aswan; Hassan Akl, the Chairman of the State Company Ganoub Al-Wadi Holding Petroleum Company (Ganope); and Dr. Hany Elsharkawi, Dana Gas Egypt Country Director.

The Dabayaa-2 delineation well was drilled on the eastern side of the West Manzala concession in the Nile Delta to appraise the Dabayaa-1 discovery well in the Lower Abu Madi Sandstone formation. A new discovery was made in the Upper Abu Madi formation, and the well has added over eight million cubic feet of gas per day and 240 barrels of condensate per day to Dana Gas’s production.

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


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