Dana P Does Two Step in Egypt’s North Zeit Bay

Dana Petroleum, the KNOC subsidary, has just completed two successful exploration wells in Egypt. The wells, the East Matr-1x and the North Matr-1X, were drilled on the North Zeit Bay concession.

The East Matr-1X, spud near the end of February, was drilled with the Sino Tharwa Tanmia 1 rig, reaching a total depth of 5,800 ft. The upper interval of Rahmi sand in the Kareem formation tested oil and gas, with a maximum stabilized flow rate of 6,153 boepd and 6.29 Mmscf/d, with a 96/64" choke. The well has now been tied into the Lorcan production facility in North Zeit Bay.  The well will be constrained to produce around 1,200 bpd.

Dana then drilled the North Marr-1X on an adjacent fault block. The well was spud in early April and reached total depth on April 25. The well encountered a 22 ft sand in the Kareem formation, which tested oil and gas with a maximum stabilized rate of 3,630 bpd and 4.35 Mmscf/d, constrained by surface testing facilities. The well has also been tied in to the Lorcan production facility and started production on May 13.

Dana's MD in Egypt, Nick Dancer, said: “Not only are we very pleased to have drilled two successful exploration wells in quick succession, with excellent reservoir characteristics, we are also pleased with Zeitco's commitment to rapid tie back and first oil for these wells. Dana plans to invest $169 million in Zeitco this year to continue our successful partnership with Egyptian General Petroleum Company.”

Zeitcois an Egyptian joint venture company formed to operate the North Zeit Bay concession, on behalf of the equal shareholders, EGPC and Dana Petroleum. Dana Petroleum has a 100% working interest in the North Zeit Bay concession.