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FINANCIAL NEWS
Dana Gas finds new gas reserves in Egypt
01 Jul 2013
(MENAFN) UAE’s Dana Gas, the largest largest private sector natural gas company in the Middle East, has disclosed new findings of gas reserves in Egypt’s Nile Delta, Reuters reported.
The company said the initial tests in the Begonia-1 discovery well produced 9.4 million cubic feet per day.
Begonia-1 also produced 133 barrels of condensate, a light oil, in the test drilling in a sandstone reservoir of the Lower Abu Madi Formation.
Dana Gas estimated total resources for the Lower Abu Madi zone are between 7 and 15 billion cubic feet, along with around 100,000 barrels of condensate.
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