Dana Gas Makes Gas Discoveries in Nile Delta

Dana Gas has made two new onshore gas discoveries in the Nile Delta Basin of Egypt. The two discoveries, Alyam-1 and Balsam-1, should increase the company's commercial reserves by between 17 (proved) and 95 (proved & probable) million barrels of oil equivalent (MMBOE).

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. 

Balsam-1 well encountered 51 meters of net pay in a good-quality sandstone reservoir of the Qawasim formation at high pressure, indicating high deliverability from the field. Production testing yielded 10 million standard cubic feet per day of gas and more than 1,000 barrels per day of liquid condensate. The two new fields have the highest liquid yield of any gas field discovered in the area so far.

The estimated reserves for Balsam-1 are between 76 to 436 billion cubic feet (BCF) of gas with between 2.5 and 9.4 million barrels of condensate (MMBO). The estimated reserves for the Alyam-1 discovery are between 8 and 66 BCF and between 0.2 and 1.3 MMBO.