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Wednesday, September 08, 2010 15:18 AEST

OIL & GAS

Dana Gas Egypt achieves 20% increase in 2009 average daily production rate and makes 9th new gas discovery

Posted on: Friday, January 08, 2010 ; 00:00 IST

Dana Gas PJSC, the Middle East's first and largest regional private sector natural gas company, has announced that it has successfully achieved its end of year production target for Egypt operations by delivering a production rate in excess of 40,000 boepd on December 31st 2009. Overall, Dana Gas Egypt has delivered an average production rate of 34,750 boepd during 2009. Compared to 2008, this represents an increase of 27% on the end of year production rate and is a 20% increase on the average daily production rate. The company is also pleased to announce the ninth gas discovery from the Orchid-1 well. This new discovery follows its eight gas discoveries in the country announced throughout 2009 (namely Salma-1, West Manzala-2, Azhar-1, Tulip-1, Sharabas-1, Sama-1, Faraskur-1 and Marzouk-2). The Orchid-1 well was drilled in the West Manzala concession of the Nile Delta, 1 [ Continued in next page... ]
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