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Dana Fuel has reported a brand new gasoline discover in Egypt’s onshore Nile Delta after efficiently drilling the North El-Basant 1 exploration effectively, the corporate mentioned on Dec. 11. Early outcomes point out estimated recoverable reserves of 15–25 Bcf, with manufacturing anticipated to exceed 8 MMcfed as soon as the effectively is tied into Egypt’s nationwide grid.
The effectively is the fourth within the firm’s $100 million growth and exploration program, which incorporates 11 new wells geared toward boosting home gasoline provide, rising reserves and supporting long-term output. Three wells drilled earlier this 12 months added 10 MMcfd, and recompletion work on one other three wells contributed an extra 9 MMcfd, bringing complete new volumes from drilling and workovers to about 30 MMcfd.
Dana Fuel mentioned this system is predicted so as to add roughly 80 Bcf of recoverable reserves over its life. The corporate additionally plans to spud the subsequent effectively within the marketing campaign—the Daffodil exploration effectively—in early January 2026.
“This newest success reinforces the worth of our funding program in Egypt and highlights the numerous remaining potential of the Nile Delta,” mentioned Dana Fuel CEO Richard Corridor. “Rising native gasoline manufacturing will assist cut back Egypt’s reliance on imported LNG and gas oil and is predicted to ship greater than $1 billion in financial financial savings over time.”
The corporate credited improved fiscal phrases underneath its settlement with EGAS for securing further acreage and accelerating drilling exercise. Dana Fuel famous that continued well timed funds from companions will probably be important for sustaining its funding plans within the nation.
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