Dana Gas Expands Presence

MarineLink.com
Monday, April 22, 2013

Dana Gas, a regional private sector natural gas company in the Middle East, announced a successful bid in the Egyptian Natural Gas Holding Company 2012 International Bid Round that took place on April 18, 2013. The Company has also been prequalified as a non-operator in Lebanon’s first Offshore Licensing Round.



Egypt


The Company was awarded 100% working interest in the North El Arish Offshore (Block 6) concession area. The area is located offshore Nile Delta, in the eastern part of the Mediterranean Sea, in water depths of up to 1,000 meters and covering an area of 2,980 km². The concession has an eight year exploration period comprised of three phases starting with an initial four year exploration period and two additional two year extension periods. A 20 year development lease period will be granted based on approved commercial discovery. It is expected that the new concession will be awarded in late 2013 following completion of the necessary procedures, which concludes when the concession is passed into law after approval by the competent authorities.



Dana Gas’ operations in the Nile Delta currently produce gas and associated liquids from 10 fields. In spite of recent operational challenges, Dana Gas Egypt produced gas, LPG, condensate and crude oil at an average rate of just over 32,200 boepd in 2012. Pending resolution of the receivables position production is slated to increase in 2013 as compression facilities are added, new fields are brought on stream and work commences on increasing the throughput of the El Wastani plant to above 180 MMscfd. Further increase of production capacity to 250 MMscfd by early 2014 is designed to maximize liquids production and optimize asset value. Dana Gas is currently the 6th largest gas producer in Egypt and is firmly committed to pursuing further investment opportunities in the region, in partnership with both local and international energy companies.
 


Lebanon

The Company has also been prequalified as a non-operator in Lebanon’s first Offshore Licensing Round. Dana Gas will be able to bid as non-operator in the licensing round which opens on May 2. As part of the bid, only consortiums of minimum three companies will be awarded a block, with each non-operator obliged to have a minimum 10% working interest. There are 10 deep water exploration blocks available, ranging from 1,500 to 2,500 square km.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Construction of new Stockholm Norvik Port Begins

For Hutchison Port Holdings (HPH), one of the world’s leading container terminal operators, Stockholm is strategically important. In April the final permit was

The Odd Trio - HMM, Maersk and MSC

In one of the more bizarre twists in the container shipping market it emerged last week that financially troubled carrier South Korean Hyundai Merchant Marine

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

Contracts

Wärtsilä, Zamakona Yards Join forces in Canary Island

Wärtsilä, the marine industry's leading solutions and services provider, is enhancing its service offering by participating in a new maintenance hub in the Canary Islands.

Diana Shipping Enters Contract with SwissMarine

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Ice Class Panamax dry bulk vessels,

UAE Top Court: Physical Bunkers Suppliers Have No Right to Recourse against Owners/Charterers

The OW saga - UAE Federal Supreme Court decides that physical suppliers of bunkers have no right to recourse against Owners/Charterers. In the first decision

Offshore Energy

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1235 sec (8 req/sec)