Overview - Egypt
Nick Dancer – Managing Director
On January 1st 2007, Dana Petroleum (E&P) Limited, a subsidiary of Dana Petroleum plc acquired Devon Energy Corporation’s entire upstream petroleum business interests in Egypt. Over the last four years, Egypt has been a significant focus area within Dana's new business strategy. The acquired assets are an excellent strategic fit, having significant upside potential and a substantial number of new targets to exploit, as well as new opportunities available through drilling prospects emerging in the largely unexplored exploration blocks.
Dana, having already secured three interests in Egypt, operated by Gaz de France, ENI and BP, is following a corporate strategy which includes a geographical focus on high quality assets in the North Sea and Africa.
Dana’s new interests span the prolific Gulf of Suez, which includes four of the acquired eight concessions, and the Western Desert oil regions, that includes the remaining four. The portfolio includes 13 fields, currently producing approximately 7,500 barrels of oil per day.
Dana successfully drilled an infill well on the 100% WI Operated East Zeit field and plans to drill two further wells after exercising the right to a 10 year PSC extension.
A successful exploration well on the South October block (Dana 65% Operator) will lead to production in early 2012 with two further wells planned.
Ongoing engineering studies are taking place in the North Zeit Bay discovery (Dana 100% WI) to establish best evacuation route. Dana is planning to drill a further 3 development wells during 2011.
Design concepts are being evaluated for the West El Burullus gas discovery in the West Mediterranean Sea Operated by Gaz de France.
BG are awaiting the arrival of a rig to drill the Manzala well which Dana farmed into for a 50% share with the well spudding in August 2011.