Egyptian authorities have formally approved the award of the North El Arish (Block E) Concession offshore block to Dana Gas, the UAE based minnow. The 2,980 sq. km block, covering water depths from 20 up to a 1000 m, was awarded as part of a competitive bidding process in April 2013.
“This is the Company’s first offshore block in Egypt”, Dana’s CEO, Patrick Allman-Ward said in a statement. “Multiple play types have already been identified within the acreage and plans for the first exploration phase of four years, which has now commenced, includes seismic acquisition and the drilling of one exploration well”.
“The Company is also pleased to announce the award of a new Development Lease, known as Balsam which is located in the West El Manzala Concession, Nile Delta region. The lease, which is 32 sq. km brings the number of current leases to thirteen. Alongside the award of Balsam, Dana Gas has secured an 18 sq. km increase at its El Basant and Sama Development Leases in West El Manzala and West Al Qantara Concessions respectively” the document says.