Dana wins Egyptian approval

January 29, 2013

Egypt approves Dana's Nefertiti development

Dana Petroleum

The Egyptian government has approved Dana Petroleum's plan to develop the Nefertiti oil field in the Gulf of Suez, the company announced on 29 January 2013.

The lease was approved 20 January 2013 following a successful appraisal of exploration well Nefertiti-2X at the end of 2012.

Dana and partner Inpex found a maximum stabilized flow rate of 1,850 b/d with an electrical submersible pump at Nefertiti-2X. The partners expect the well to produce 2,500 b/d when the field comes on-stream in six months.

"The Nefertiti field is a first for Dana in that it is an offshore field that we have explored by drilling extended reach wells from an onshore location," said Dana’s Managing Director in Egypt Nick Dancer. "Whilst increasing the complexity of the wells, it reduces the drilling and subsequent development costs and reduces development time as well as protecting the offshore environment including a number of coral reefs.

" I’m delighted we’ve been given the green light to progress the development, and also undertake further drilling in the area to test a different play concept in the Nefertiti Field."



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