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  • 05-09-10

    Dana unveils new gas discovery in Egypt

    (MENAFN) UAE-based natural gas company Dana Gas announced that it has made a new discovery in the Nile Delta, Egypt, Bloomberg reported. The discovery well, South Abu El Naga-1ST, is located in the West El Manzala Concession, the company said in a statement to the Abu Dhabi bourse. Dana said the preliminary reserves estimate is in the range of 50 billion to 90 billion standard cubic feet of gas, with 1 million to 2 million barrels of associated condensate. The discovery is the company�s fourth in Egypt this year, the statement said, adding that the new well would be appraised and development options studied.

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