Dana Gas Reports 20% Increase In Egypt Daily Production
Dana Gas PJSC, the Middle East's first and largest regional private sector natural gas company, announced Tuesday that it has successfully achieved its end of year production target for Egypt operations by delivering a production rate in excess of 40,000 boepd on December 31st 2009.
Overall, Dana Gas Egypt has delivered an average production rate of 34,750 boepd during 2009. Compared to 2008, this represents an increase of 27% on the end of year production rate and is a 20% increase on the average daily production rate.
Speaking of the production results, Dana Gas CEO Ahmed Al Arbeed, said, "We are very pleased with the 2009 operational performance of our business in Egypt. Meeting the 40,000 boepd target is a tribute to the Dana Gas teams and their focus and ability to monetize the value from our acreage."
Dana Gas is the sixth highest natural gas producer in Egypt.