Sharjah: Dana Gas, the Middle East's first and largest regional private sector natural gas company, has announced that its annual production rate for 2010 from its Nile Delta Concessions in Egypt is an estimated 42,000 barrels of oil equivalent per day (boepd), an increase of 20 per cent on 2009, with production commencing from seven new fields.
The company has continued its exploration success during 2010 with seven new field discoveries in the Nile Delta from 11 exploration wells drilled, which has led to a 20 per cent increase in reserves, after allowing for 2010 production, compared to December 31, 2009.
Dana Gas has decided to retain its 100 per cent interest in its Nile Delta concessions and to continue operating them to maximize ultimate benefit for its shareholders rather than proceeding with a proposed farmout.
Dana Gas has now embarked on a new phase of production growth, upgrading existing plants and building new capacity to bring these new fields online as quickly as possible.
The planned new gas processing plant to the East of the Nile River will be designed to process 120 million standard cubic feet per day (mmscfpd), a considerable increase compared to the original planned design of 50 mmscfpd, which will contribute significant value as the South Abu El Naga and Salma North discoveries have high liquid content.
This, along with an ongoing increase in capacity at its El Wastani Plant, will bring Dana Gas’ total production to some 400 mmscfpd (67,000 boepd excluding liquids) in mid 2012.
The company is also continuing its aggressive exploration campaign with a 14 well programme for 2011; the drilling of first well, Sanabel-1, has commenced targeting the deeper high potential Sidi Salim formation.
