Dana Proceeds with First Offshore Exploration Block in Egypt

Middle Eastern natural gas company Dana Gas announced Tuesday that it has signed a deal for the North El Arish (Block 6) Concession Area, offshore the eastern Nile Delta in Egypt.

The 1,150-square mile block is the company's first offshore block in Egypt. It covers water depths of between 65 feet and 3,280 feet.

Dana said that multiple play types have already been identified within the acreage. The four-year exploration phase has already commenced with plans including seismic acquisition and the drilling of one exploration well.

Dana CEO Patrick Allman-Ward commented in a company statement:

"We are very pleased to have signed the North El Arish Concession Agreement. We consider this block to be highly prospective and it forms an important part of Dana Gas's growth portfolio.

"Dana Gas remains fully committed to developing the natural gas industry in Egypt, and we are extremely optimistic about the future. We are continuing with constructive dialogue with the Egyptian Government in order to further reduce the outstanding receivables as soon as possible."

Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager, Oil and Gas
Expertise: Petroleum Engineering|Project Management
Location: West Chicago, IL
Business Development Manager
Expertise: Business Development|Construction Manager
Location: Portland, OR
Business Development Manager
Expertise: Business Development|Construction Manager
Location: Denver, CO
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours