Dana Gas says production from new discoveries in Egypt exceed expectations

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Nicosia, Jan 29 : Sharjah-based Dana Gas in a recent nnouncement has said that its current production of 32,000 arrels of oil equivalent exceeded the company's expectations.

The company attributed its good performance to the fact that its ew discoveries have started production earlier than anticipated.

The El-Baraka discovery at Dana Gas' wholly owned Komombo oncession in Upper Egypt made its first shipment of oil several onths ahead of schedule. The second discovery at West Manzala as also started production.

Dana Gas entered into the energy exploration and development ield in Egypt last year through the acquisition of Centurion nergy for 250 million dollars. It currently has three evelopment leases and two exploration blocks in the Nile Delta.

Rashid al-Jarwan, Dana Gas General Manager, said that the year 008 would be a busy one for Dana Gas with an active exploration nd drilling program in Egypt, as well as the start up of its ajor projects in the United Arab Emirates and Northern Iraq. ANI)

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