CAIRO: Middle East energy giant Dana Gas has announced that production from its newly spudded al-Baraka 4 well is producing oil at five times the rate of other wells in the field. The production is far greater than expected and continues to put Egypt at near the top of gas exploration, with Dana Gas leading the charge with a handful of discoveries in the past year. Dana Gas reported its appraisal well in the al-Baraka field in southern Egypt encountered 52 feet of net oil pay in defined reservoirs in the Komombo basin. Another 26 feet of oil pay was encountered in a new pool in the so-called Six Hills “E” reservoir. The announcement comes as the global economic crisis continues to adversely affect the United Arab Emirates, where Dana Gas is based, but the company said it has not been hit hard due to its projects elsewhere. Dana Gas said natural flow of oil to the surface is recorded at 220 barrels of oil equivalent per day. “Al-Baraka 4 expands a new era of petroleum exploration in southern Egypt,” said Dana Gas Egypt President Hany Elsharkawi. “The fact that oil has flowed naturally to surface from a new layer with better reservoir quality demonstrates that the Komombo basin is more prolific than originally thought.” Dana Gas is evaluating the reserves of the well. It noted the find is the first in the Komombo basin with oil flowing to the surface through natural energy. BM
