Dana Gas discovers two gas reserves in Egypt
UAE-based Dana Gas announced on Saturday that it found two gas reserves in Egypt estimated at…
August 2, 2009 12:01 by Dana El Baltaji
UAE-based Dana Gas announced on Saturday that it found two gas reserves in Egypt estimated at 76 billion cubic feet, reports Reuters.
The reserves are located at Sharabas-1 and Sama-1 wells in the Nile Delta region.
“The Sharabas-1 and Sama-1 discoveries will boost Dana Gas’ production and profitability, and will take us closer to achieving our target production of 40,000 barrels of oil equivalent per day by the end of the year; a target that we are already well on the way to achieve,” chief executive Ahmed Al Arbeed said in the statement.