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FINANCIAL NEWS
Dana Gas’ Egypt production surges 20% in 2010
04 Jan 2011
(MENAFN) Ahmed al Arbeed, Chief Executive Officer at Dana Gas, a UAE-based energy company, revealed that in 2010, its production in Egypt hit 42,000 barrels of oil equivalent per day (boepd) registering a 20 percent surge, aided by additional output from seven new fields in the Nile Delta, Reuters reported.
According to Arbeed, Dana Gas, which has decided to retain its 100 percent interest in the Nile Delta concessions and continue operating them, plans to explore 14 wells this year, with the first, Sanabel-1, underway. By mid-2012, Egypt output is expected to reach 67,000 boepd.
Furthermore, Dana’s output continues to increase with current production in the Nile Delta at 246 million standard cubic feet per day (mscfd) of gas, plus 7350 barrels per day of condensate and LPG totaling 48,000 boepd, said the CEO.
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