ID :
24841
Thu, 10/16/2008 - 15:05
Auther :
Shortlink :
https://oananews.org//node/24841
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Dana Gas announces important gas discovery in Egypt
Sharjah, Oct 16, 2008 (WAM)- Dana Gas, the Middle East's first and largest regional private-sector natural gas company, has announced a gas and condensate discovery in its Egyptian concessions, marking the third discovery in the company's US$ 170 million drilling campaign for 2008.
The "Al Tawil-1" exploratory well commenced drilling on Sept. 5, 2008, and reached a total measured depth of 3163 meters in the Qawasim formation. The well is located in the West Manzala concession, approximately 15 km south of Dana Gas's El Wastani gas processing facilities.
The Al Tawil-1 well encountered 34 meters of net hydrocarbon pay in the Qawasim sandstone reservoirs with excellent porosity and permeability. Upon testing, the well flowed at a daily rate of 23.5 million standard cubic feet of gas and 1027 barrels of condensate (totalling approximately 5000 barrels of oil equivalent - boe - per day). The added recoverable reserves, resulting from the successful drilling of the well, are currently estimated at 90 billion cubic feet of gas (16 million boe), in addition to 4 million barrels of associated condensate, representing a 20% increase to the current reserves of Dana Gas in Egypt. Plans are underway to determine the optimum development scheme for the new discovery. Additional exploratory wells targeting similar objectives will be drilled in the West Manzala and the West Qantara concessions in 2008 and 2009.
Dana Gas is the sixth highest natural gas producer operating in Egypt today. A report by the Middle East Economic Survey (MEES) confirmed that Dana Gas was the only private company from the region to make new Middle East oil and gas discoveries in 2007. The new Al Tawil-1 well is part of an aggressive drilling project announced by Dana Gas earlier this year, covering 15 exploration wells and four development wells.
Dana Gas is currently also leading a consortium to build and operate the Gulf of Suez Gas LPG Plant, in partnership with the Egyptian Natural Gas Holding Company (EGAS) and the Arab Petroleum Investment Corporation (APICORP).
The "Al Tawil-1" exploratory well commenced drilling on Sept. 5, 2008, and reached a total measured depth of 3163 meters in the Qawasim formation. The well is located in the West Manzala concession, approximately 15 km south of Dana Gas's El Wastani gas processing facilities.
The Al Tawil-1 well encountered 34 meters of net hydrocarbon pay in the Qawasim sandstone reservoirs with excellent porosity and permeability. Upon testing, the well flowed at a daily rate of 23.5 million standard cubic feet of gas and 1027 barrels of condensate (totalling approximately 5000 barrels of oil equivalent - boe - per day). The added recoverable reserves, resulting from the successful drilling of the well, are currently estimated at 90 billion cubic feet of gas (16 million boe), in addition to 4 million barrels of associated condensate, representing a 20% increase to the current reserves of Dana Gas in Egypt. Plans are underway to determine the optimum development scheme for the new discovery. Additional exploratory wells targeting similar objectives will be drilled in the West Manzala and the West Qantara concessions in 2008 and 2009.
Dana Gas is the sixth highest natural gas producer operating in Egypt today. A report by the Middle East Economic Survey (MEES) confirmed that Dana Gas was the only private company from the region to make new Middle East oil and gas discoveries in 2007. The new Al Tawil-1 well is part of an aggressive drilling project announced by Dana Gas earlier this year, covering 15 exploration wells and four development wells.
Dana Gas is currently also leading a consortium to build and operate the Gulf of Suez Gas LPG Plant, in partnership with the Egyptian Natural Gas Holding Company (EGAS) and the Arab Petroleum Investment Corporation (APICORP).
