The El Manzala Offshore Area Concession is a large PSC area, covering some 630sqkm, situated in the prolific offshore Nile Delta area of Egypt. According to Dana, the area already has significant coverage of both 2D and 3D seismic data.
Dana will fund the cost of the next exploration well up to an agreed cap in order to earn the 50% interest. The company has assessed that this area is prospective in both the Pliocene play, analogous to its two gas discoveries – WEB-1 and Papyrus – in the West El Burulus concession, as well as having further prospectivity in the deeper high pressure horizons.
Tom Cross, chief executive of Dana, said: “We look forward to working with BG, 50/50 in this large concession in the eastern part of the Nile Delta, with a plan to drill in early 2011.
“This further extends Dana’s strategic position and growth opportunities across Egypt, where we are already 50/50 partners with Gaz de France in the western area of the Nile Delta, together having made two gas discoveries with our first two wells at WEB-1 and Papyrus.”
