01-08-2008
The early
production from two new discoveries has contributed substantially to the
favourable production rate and brings significant development potential to
Egypt.
The Al Baraka discovery well has produced the first oil ever in Upper Egypt. In
the short period of four months from discovery to first production, the first
shipment of oil was delivered to the Assyut Refinery on December 27. The
discovery was hailed by the Egyptian Petroleum Minister, H.E. Eng. Sameh Fahmy,
who visited the site and named the new field 'Al-Baraka' (meaning 'blessing' in
Arabic). The Minister was accompanied by General Samir Yousif, Governor of
Aswan; Hassan Akl, the Chairman of the State Company Ganoub Al-Wadi Holding
Petroleum Company (Ganope); and Dr. Hany Elsharkawi, Dana Gas Egypt Country
Director.
The Dabayaa-2 delineation well was drilled on the eastern side of the West
Manzala concession in the Nile Delta to appraise the Dabayaa-1 discovery well in
the Lower Abu Madi Sandstone formation. A new discovery was made in the Upper
Abu Madi formation, and the well has added over eight million cubic feet of gas
per day and 240 barrels of condensate per day to Dana Gas's production.
Dr. Hany Elsharkawi, Dana Gas Egypt Country Director, expressed the Company's
pride in producing the first oil in Upper Egypt and the rapid hook-up of the
Dabayaa-2 well, saying: 'We are excited about our recent successes, which
confirm our confidence in the development opportunities in both the Upper Nile
and Lower Egypt concessions.'
Rashid Saif Al Jarwan, General Manager of Dana Gas, added: 'The year 2008 will
be a busy one for Dana Gas, with an active exploration and drilling program
continuing in Egypt, as well as the startup of our major projects in the
UAE and Northern Iraq. We are also actively evaluating a
number of other interesting opportunities in the Middle East and North Africa.'