Petroleum Africa
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Wednesday, May 6, 2015
Dana Gas Egypt saw a bit of a production decline in Q1 2015 as compared to the previous year. The company said it saw total production of 37,700 boepd in Q1 2015 compared to 39,100 boepd in Q1 2014 due to the natural decline in gas wells.
The GPEA has committed Dana Gas to a seven-year staged, $350 million work program with 20 new development wells and 17 work-overs of existing wells. The company will keep the proceeds from incremental liquid sales, which will be used to pay down the receivables owed by the Egyptian government.
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