See also:
» 24.02.2010 - $280 million loan for Egypt’s airport development approved
» 11.02.2010 - Egypt opens country’s investment potential
» 02.02.2010 - Vast Egyptian land reserved for development
» 15.12.2009 - World's largest digital archives for Egyptian and Arabic history created
» 14.12.2009 - World Bank chief end Egyptian visit on positive note
» 10.12.2009 - Algeria’s energy firm to go into joint venture
» 07.12.2009 - Egypt calls off search for ferry collision victims
» 19.11.2009 - Orascom to contest $6 mln tax bill

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Economy - Development

Dana discovers 100 billion cubic feet of gas

afrol News, 24 February - Dana Gas has announced the discovery of 100 billion cubic feet of gas in one of its Nile Delta concessions in Egypt. The discovery which is expected to yield the company 16 million barrels of oil is the company’s fifth find since last year.

According to the company’s emailed statement, the Azhar-1 well find comes barely a week after the Mideast's first and largest private sector gas company discovered roughly 20 billion cubic feet of dry gas in another concession in the Delta region.

Executive Director of Dana Gas Upstream, Ahmed Al-Arbeed said in a statement yesterday that additional wells are planned for other zones that may increase the total reserves up to 150 billion cubic feet.

“A preliminary estimate of the exploration reserves of Azhar-1 discovery is in excess of 100bn cubic feet of gas and additional wells are planned for other potential hydrocarbon bearing zones that might increase the total reserves up to 150 cubic feet of gas," he said in a statement.

The well revealed 18 metres of net pay in a good quality sandstone reservoir of the Qawasim formation and 15.1 meter standard cubic feet per day of gas, and 444 barrels of condensate per day, according to the company’ statement.

Egypt's country director Hany Elsharkawi said the development plans for the discovery were being prepared by the company.

“We expect to start production from Azhar-1 during mid 2009, which will take the Dana Gas El Wastani plant to full capacity” he said.

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