El Wastani Petroleum Company (WASCO) has drilled the North El-Basant–1 exploratory well in the Nile Delta, uncovering an estimated 15–25 billion cubic feet (bcf) of additional natural gas reserves according to initial results.

The company is currently completing procedures to bring the well online, with expected production reaching around 10 million cubic feet per day (mmcf/d), according to the Ministry of Petroleum and Mineral Resources.

This step is part of the ministry’s effort to reduce the gap between production and consumption by encouraging investment partners to intensify the drilling of exploratory wells. WASCO is a joint venture between UAE Dana Gas and the Egyptian Natural Gas Holding Company (EGAS). El Basant gas field was first discovered by Dana Gas in 2008 in the West El Manzala Concession in the Nile Delta region.

Dana Gas has embarked on a multi-year investment program aimed at boosting reserves and sustaining long-term production in Egypt. The $100 million plan includes drilling six exploration wells and five development wells over the next period.

The program is expected to increase ultimate gas recovery by 80 bcf,  enhance asset value, and extend the overall lifespan of Dana Gas’s Egypt portfolio.

In July, the company began drilling the first Begonia-2 appraisal well located in the New Manzala concession area in the Nile Delta region. This was the first well in the Begonia development area and targeted gas reserves in the Abu Madi formation. Initial estimates indicated a reservoir volume of up to nine bcf of natural gas.