Dana Gas discovers 100 billion cubic feet of gas in Egypt | business | Hindustan Times
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Dana Gas discovers 100 billion cubic feet of gas in Egypt

business Updated: Feb 24, 2009 10:18 IST

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Sharjah-based Dana Gas has announced a gas discovery -- Azhar-1 -- in one of the company's concessions in the Egyptian Nile Delta.

The well is set to add up to 100 billion cubic feet (16 million barrels of oil equivalent) to the company's reserves in Egypt.

The discovery comes soon after the announcement of a dry gas discovery at the West Manzala-2 well and three gas and condensate discoveries at the El Basant-1, El-Basant-2 and Salma-1 wells, a company statement said.

Azhar-1 is the latest in a string of discoveries resulting from Dana GasDana Gas's aggressive drilling campaign in Egypt, which began in 2008 and continues to yield results in 2009.

"The discovery at the Azhar-1 well represents our fifth consecutive discovery from our 2008-2009 drilling campaign. A preliminary estimate of the exploration reserves of Azhar-1 discovery is in excess of 100 billion cubic feet (bcf) of gas.

"And additional wells are planned for other potential hydrocarbon-bearing zones that might increase the total up to 150 bcf gas," Dana Gas Upstream Executive Director Ahmed Al-Arbeed said.