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Dana Gas reveals over 50% increase in operated gas production
Dana Gas, the Middle East's regional private-sector natural gas company, has announced that its aggressive growth strategy, driven by a capital investment program approaching $500 million, is delivering strong results.
- Staff Report
- Published: 14:50 November 4, 2008
Dubai: Dana Gas, the Middle East's regional private-sector natural gas company, has announced that its aggressive growth strategy, driven by a capital investment program approaching $500 million, is delivering strong results.
The gross operated gas production from operations in Egypt and the Kurdistan Region of Iraq has reached 220 million standard cubic feet per day (mmscfd), totaling more than 40,000 barrels of oil equivalent (boe) per day, an increase of over 50 per cent.
Commencement of production from a 75mmscfd early production facility began earlier this month in the Kurdistan Region of Iraq.
Total gas production is expected to increase to 150mmscfd early next year, eventually reaching 300mmscfd in 2009, leading to a 200 per cent increase on the company's current operated production in Egypt.
Earlier last month, Dana Gas also announced a significant gas discovery at Al Tawil in the Nile Delta in Egypt, which was production tested at a rate of 23.5 mmscfd of gas and 1,027 barrels of condensate per day (totalling approximately 5,000 boe per day).
This discovery is particularly important as the well-produced condensate at higher levels than existing producing wells and so will add materially to the company's overall liquid production in Egypt.
In the UAE, Dana Gas is moving ahead with plans for exploration and development of the Western Offshore concession in the Emirate of Sharjah, as part of a 25-year agreement with the Government of Sharjah.
The concession agreement covers a total offshore area of over 1,000 square kilometres, and includes the development of the offshore Zora gas field in Sharjah by mid-2009.
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