DUBAI- United Arab Emirates' Dana Gas made two new gas discoveries in Egypt, the company said in a statement on Sunday. Abu Dhabi-listed Dana Gas moved into the Egyptian upstream sector in November 2006, when it became the country's sixth largest gas producer through the C$1.15 billion acquisition ($1.08 billion) of Canada's Centurion International. The first discovery was at El Panseiya-1 west of the El Manzala concession, which produced 10 million cubic feet per day of dry gas, said the statement. The preliminary estimate of the recoverable reserves is estimated to be between 8-13 billion cubic feet (bcf) of gas, it added. The second discovery, South Faraskour-1 was also made west of the El Manzala concession. The well tested 16.3 million cubic feet per day of gas with condensate, and reserves are estimated at 27-57 bcf of gas with associated condensate. Both discoveries are expected to be tied in to the company's El Wastani gas processing plant by the end of 2010, the statement said. Last year, the company made eight gas discoveries in Egypt from 12 exploration w ells, Ahmed Al Arbeed, chief executive of Dana Gas said in the statement. "This resulted in a 40 per cent increase in proved plus probable (2P) reserves to 132 million barrels of oil equivalent at the end of the 2009," he said. The company also announced the first production from its West Qantara concession in the Nile Delta from the Sama Field which was put on stream in February five weeks ahead of schedule, the statement added without giving details of the field's production. Egypt's holds Africa's third-largest natural gas reserves after Algeria and Nigeria at 1.89 trillion cubic metres.
