UAE-based energy firm Dana Gas announced that it has made two new onshore gas discoveries in the Nile Delta Basin of Egypt
The company said in a statement that initial estimates indicate that together the two discoveries, known as Alyam-1 and Balsam-1, should increase the company's commercial reserves by between 17 (proved) and 95 (proved and probable) million barrels of oil equivalent (MMBOE).
Appraisal drilling will be conducted on both discoveries which are located on the West El Manzala Concession, operated by Dana Gas. The company has already filed a declaration of commerciality and development plans for the two discoveries, which will be tied in to the nearby pipelines also owned by Dana Gas.
Rashid Al Jarwan, executive director and acting chief executive officer of Dana Gas, said, "Our latest two discoveries confirm the Nile Delta as a prolific hydrocarbon-bearing basin.
"Dana Gas remains fully-committed to the long term development of Egypt's gas industry and its essential role in fuelling the nation's economic growth."
