Dana Gas Signs Agreement for Block Offshore Egypt

Dana Gas has signed an agreement for the North El Arish (Block 6) concession area, offshore the eastern Nile Delta, Egypt.

The 2,980 sq. km block was awarded in April 2013 as part of a competitive bidding process. This is the company’s first offshore block in Egypt.

Dana Gas has also announced the award of a new development lease, known as Balsam which is located in the West El Manzala Concession, Nile Delta region. Alongside the award of Balsam, Dana Gas has secured an 18 sq. km increase at its El Basant and Sama Development Leases in West El Manzala and West Al Qantara concessions respectively.

The company has filed development plans for these leases and the fields can be brought on-stream very rapidly given Dana Gas’ comprehensive gas pipeline network and processing plants across its operating area.

Dana Gas is currently the 6th largest gas producer in Egypt, and operates in the Nile Delta through the El Wastani Petroleum Company (Wasco), Dana Gas’ joint-venture company with the Egyptian Natural Gas Holding Company (EGAS).

In 2013, production in Egypt averaged 36,700 boepd, a significant year on year increase of 14%.

During the third quarter, the Company announced that it had achieved the highest production levels (equivalent to 41,500 boepd) in Egypt in the last two years.

Sign-up for our free weekly newsletter update via email here