Abu Dhabi – Mubasher: Dana Gas unveiled a new gas discovery after the successful drilling of the North El-Basant 1 exploratory well in Egypt’s onshore Nile Delta, according to a press release.
Preliminary results indicate estimated reserves of 15–25 billion cubic feet (bcf) of gas, with production expected to exceed 8 million cubic feet per day (mmscfd) once the well is connected to the national network.
This marks the fourth well of the 11 development and exploration wells under the ADX-listed company’s $100 million investment program.
The initiative aims to boost domestic gas production, increase reserves and meet growing energy demand.
Earlier this year, Dana Gas completed the drilling of 3 wells successfully, adding 10 mmscfd.
The program is expected to increase long-term production and add approximately 80 bcf in recoverable gas reserves throughout the program’s life.
In parallel, the group recompleted three wells, adding 9 mmscfd of production outside the current investment program. The drilling and recompletion programs executed are adding around 30 mmscfd of new production.
Meanwhile, Dana Gas expects to spud the fifth well in the program, the Daffodil exploration well, in the first week of January 2026.
Richard Hall, CEO, Dana Gas, said: “By increasing local gas production, the program will help reduce Egypt’s reliance on imported LNG and fuel oil and is expected to generate more than one billion dollars in savings for the national economy over time.
Hall added: “Our agreement with EGAS has enabled us to secure additional acreage under improved fiscal terms and to accelerate this new phase of drilling activity. Regular and timely payments from our partners are crucial to sustaining our investment program in Egypt.”
Under the $100 million investment program, Dana Gas maintained steady progress in Egypt, where drilling and recompletion activities are ongoing following the successful results of Begonia-2 and Balsam-3 wells.
