Dana Gas announced starting drilling operations at its Merak-1 well, offshore Egypt, on May 20, Egypt Oil & Gas reports.
The well is located in 755 meters of water at the North El-Arish concession, in the Eastern Mediterranean Basin, the company said in a statement.
The Merak-1 well is set to be drilled with the Tungsten Explorer drillship, on hire from ADVantage Drilling Services SAE, a JV between ADES International and Vantage Driller II Company.
The well is set to take approximately 70 days to be drilled and could add up to 4 trillion cubic feet (Tcf) of natural gas in prospective resources, which could support developing the offshore field.
“We have commenced an exciting exploration program in our Egypt Block 6 Concession Area. Until now, all of our Egyptian operations have been onshore the Nile Delta. Whilst we continue to optimize production from our 14 existing fields and explore new prospects in the Nile Delta region, the potential addition of new world-class gas resources offshore presents an opportunity for significant growth in our Egypt business that would be transformative for Dana Gas,” said Patrick Allman-Ward, CEO of Dana Gas.
Dana Gas previously revealed plans to increase its investments in Egypt to $5 billion in the upcoming years.