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  • DANA oncreases strategic position offshore Nile Delta Egypt
    édité le 22/07/2010 - Plus de news de "DANA PETROLEUM" - Voir la fiche entreprise de "DANA PETROLEUM"

DANA oncreases strategic position offshore Nile Delta Egypt
Dana Petroleum is pleased to announce that it has signed an agreement with BG International Limited (“BG”) to acquire a 50% interest in the El Manzala Offshore Area Concession, located in the Mediterranean Sea, offshore Egypt. The deal is subject to normal regulatory approvals.

The El Manzala Offshore Area Concession is a large PSC area, covering some 630 sq km, situated in the prolific offshore Nile Delta area of Egypt. The area already has significant coverage of both 2D and 3D seismic data. Dana will fund the cost of the next exploration well up to an agreed cap in order to earn the 50% interest. Dana has assessed that this area is prospective in both the Pliocene play, analogous to Dana’s two gas discoveries in the West El Burulus concession (WEB-1 and Papyrus), as well as having further prospectivity in the deeper high pressure horizons.

This deal continues Dana’s programme to grow its business in Egypt and the offshore Nile Delta in particular, which provides world-class upside opportunities for near-term drilling and development.

Origine : Communiqué DANA PETROLEUM

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