March 7 (Bloomberg) -- Dana Gas PJSC, a United Arab Emirates-based explorer and producer, made two natural gas discoveries in the Nile Delta, Egypt, that may add an estimated 35-70 billion cubic feet of reserves.
The first discovery was at ‘El Panseiya-1’ in the West El Manzala concession, with an estimated 8-13 billion cubic feet of recoverable gas, the company said in a statement to the Abu Dhabi bourse. The second discovery, ‘South Faraskour-1,’ also in the West El Manzala concession, is estimated to hold recoverable reserves of 27-57 billion cubic feet of gas with associated condensate.
The El Panseiya-1 and South Faraskour-1 discoveries are expected to be tied in to Dana’s El Wastani gas processing plant by the end of 2010, it said.
Link to Company News:{DANA UH To contact the reporter on this story: Ayesha Daya in Dubai at adaya1@bloomberg.net
To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net
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