Dana Gas Expands Presence

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.


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.


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 Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Captain of Ill-fated El Faro was Known as Trusted Mariner

The captain of the ill-fated cargo ship that sank in a hurricane off the Bahamas with no survivors last week was an experienced and highly trusted mariner who had spent a lifetime on the water,

Cordero Reconfirmed as FMC Commissioner

Mario Cordero was reconfirmed today as a U.S. Federal Maritime Commissioner.   Cordero joined the Federal Maritime Commission (FMC) as a Commissioner on June 3,

Chiarello: TOTE Continues Support to El Faro Families

Anthony Chiarello, President & CEO of TOTE, owner of the cargo ship presumed to have sunk with 33 mariners aboard last week amid Hurricane Joaquin, issued a statement


Sea Truck's DP3 Construction Ship Passes Sea Trials

Sea Trucks has completed sea trials of the DP3 offshore construction vessel Jascon 18 in Singapore. Jascon 18 features a 1,800-metric-ton crane, 1,800 sq m deck and a 750-metric-ton pipelay system.

Royal Thai Navy Orders Harbor Tug

The Royal Thai Navy has ordered a new 32-meter tug from shipbuilder Italthai Marine Limited of Thailand, announced the vessel’s designer, Robert Allan Ltd.   Italthai Marine,

Eni Arctic Service Rig Extension Okayed

Italian oil company Eni has received permission from Norway's Petroleum Safety Authority to extend the use of a service rig on its troubled Arctic Goliat oil field offshore Norway until Nov.

Offshore Energy

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Oil Spill Statfjord North Sea Field - Statoil

Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said.

MacGregor Wins Deck Machinery Order in China

MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five

Maritime Careers / Shipboard Positions Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.1984 sec (5 req/sec)