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SHARJAH, 21st May, 2019 (WAM) — Dana Gas a leading gas company in Sharjah, announced it has begun drilling operations at itsEgypt’s offshore Merak-1 well, one of the three world class exploration prospects in Block 6, on 20 may. This block is in the Eastern Mediterranean Basin where other giant natural gas discoveries have been made in recent years.
The Merak-1 well will be drilled with the 6th generation dynamically positioned drillship “Tungsten Explorer”, on hire from ADVantage Drilling Services SAE – a Joint Venture between ADES International and Vantage Driller II Co (a subsidiary of Vantage Drilling). The well is planned to take approximately 70 days to drill.Dana gas revealed
Prospective resources to be added from this well in the case of exploration success could reach 4 trillion cubic feet of natural gas. The discovery of a world-class resource of this size could easily support an offshore field development. If Merak-1 is successful, additional exploration and appraisal drilling will follow.
The Merak prospect may contain up-to 4 trillion cubic feet(Tcf) of natural gas resources in the case of exploration success.
In 2007, Dana gas acquired the centurion assets onshore the Nile Delta in Egypt and 48 exploration wells were drilled with a 67% success rate resulting in 25 new pool discoveries since that time
Further more, proved plus probable reserves jumped by over 120% while production increased by 50%
Dana gas production from Egypt, the most populous Arab state , currently reached over 34,000 barrels of oil equivalent per day (boepd)
Dr. Patrick Allman-Ward, CEO of Dana Gas, commented, “We have commenced an exciting exploration programme in our Egypt Block 6 Concession Area. Until now, all of our Egyptian operations have been onshore the Nile Delta. Whilst we continue to optimise 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.”
