Dana gets green light for development after successful test well in Egypt
Dana Petroleum has been given the go-ahead by the Egyptian government to further develop the Nefertiti oil field in the Gulf of Suez following the successful completion of an appraisal well.
The Aberdeen-based oil and gas company, in partnership with INPEX, successfully drilled the exploration well Nefertiti-2X at the end of 2012. The well tested at a maximum stabilised flow rate of 1,850 bbls/day with an Electrical Submersible Pump (ESP), and the field is expected to produce around 2,500 bbls/day (1,625 bbls/day net to Dana) when it comes on stream in around six months.
Following the successful appraisal, the two companies agreed with the Egyptian General Petroleum Company on 7 November 2012 that the Nefertiti field was a commercial field. Eng. Osama Kamal, Minister of Petroleum and Mineral Resources, approved the lease on 20 January 2013.
Dana’s Managing Director in Egypt Nick Dancer said, “The Nefertiti field is a first for Dana in that it is an offshore field that we have explored by drilling extended reach wells from an onshore location. Whilst increasing the complexity of the wells, it reduces the drilling and subsequent development costs and reduces development time as well as protecting the offshore environment including a number of coral reefs. I’m delighted we’ve been given the green light to progress the development, and also undertake further drilling in the area to test a different play concept in the Nefertiti Field.”
About Dana Petroleum plc
Dana Petroleum plc is a $4 billion oil and gas business with operations in the UK, Egypt, Norway, The Netherlands and Africa, producing 60,000 barrels of oil a day. Our ambition is to grow to become a leading international oil and gas company operating in Europe, Africa and the Middle East. We will invest more than $5 billion over the next five years to more than double the size of the company.
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