SHARJAH, 20 February 2007 — Dana Gas, the Middle East’s first regional private-sector natural gas company, has announced an active drilling program for 15 wells in Egypt in 2007 by its exploration and production subsidiary, Centurion Energy. Ten exploration and five development wells are planned, with target depths ranging from 1,000m to 4,000m.
The company is currently the sixth highest gas producer in Egypt, and among the nine highest producing companies by production of barrels of oil equivalent (boe), out of the 64 companies that are active in Egypt’s oil & gas sector.
“As the first private-sector, regional natural gas company in the Middle East, Dana Gas’ stated goal from the outset, is to play a major role in all segments of the gas value chain as a truly integrated gas company. With over half the world’s gas reserves but a much smaller percentage of production, the region’s potential for development of the gas upstream is clear and necessary. As a company from the region, by the region, and for the region, Dana Gas has made a long-term commitment to play its part in helping the region’s resource-holders to develop their gas reserves for the benefit of their local economies and societies.” said Rashid Saif Al-Jarwan, general manager of Dana Gas.
He added that “today we are reaffirming our commitment to making further investments in the natural gas industry to benefit from the capabilities of Centurion, in the exploration and production field. In addition to investing to maximize the potential of our Egyptian assets, Dana Gas will soon be expanding into exploration & production activities in other countries in the region.”