CAIRO: The United Arab Emirates-based company, Dana Gas, announced two more discoveries in Egypt, saying that this will further boost the company's already large holdings in the North African nation. According to a statement from the company, the first discovery was in West el-Manzala and produces 10 million cubic feet of dry gas daily, with preliminary estimates of recoverable reserves between 8 and 13 billion cubic feet. The second discovery in the same concession produces 16.3 million cubic feet daily and the company said preliminary tests in the area show reserves could be between 27 and 57 billion cubic fee of gas. It is part of Dana Gas's continued push into the Egyptian market. Last year, the company announced 8 major discoveries from 12 exploration wells, which it said boosted its “proved plus probably reserves by 40 percent to 132 million barrels of oil equivalent,” the company said in a statement. The two discoveries are expected to be tied into the company's El-Wastani gas processing facility by the end of 2010, news reports said. BM
