Dana Gas announced that they plan to continue operations as well as investment in Egypt, despite challenges. Dana Gas said it has invested more than USD 1.8 billion in Egypt during the last six years and “the company remains committed to making investments that will bring benefits to both the company and the country”, reports UPI. “Our Egyptian operations continue to perform well despite the difficult fiscal environment oil and gas companies have faced in the country over the last two years”, said Dr Patrick Allman-Ward, General Manager of Dana Gas Egypt and designated CEO, according to Scandinavian Oil-Gas Magazine. Thanks to the substantial investments made in the past 18 months, the production level peaked at 39,000 boepd which is 13% higher compared to February 2012. The average output year-to-date has been 34,000 boepd.
In late June, Dana Gas announced a new discovery in the company’s West el Manzala concession in the Nile Delta. Tests on the well produced 9.4 million cubic feet of gas and 133 barrels of oil condensate. Once fully developed, the well is expected to produce 1,600 boepd. According to a statement by Dana Gas, Begonia-1 will likely be connected to the South Abu El Naga field flow line that will take the gas to the El Wastani processing plant.