PHOTO
Dana Gas plans to drill seven new wells under its ongoing drilling programme in 2026, with the Daffodil exploration well expected to spud in January.
Since the programme commenced in December 2024, four wells, including the recent North ElBasant 1 discovery, which is estimated to hold 15 bcf of recoverable gas, have been drilled, the company said in a statement to the Abu Dhabi Securities Exchange (ADX) on Monday.
These wells have added 18 million metric standard cubic feet per day (mmscfd) of production.
In parallel, the company has completed a workover programme across three wells, adding nine mmscfd of production.
More assessments are underway to identify additional workover candidates for 2026, the statement said.
The company also received a $50 million (AED 184 million) payment from the Egyptian government, significantly reducing overdue receivables.
Dana Gas intends to deliver its 11-well investment programme in 2026, contributing over $1 billion in economic savings by displacing imported LNG and mazut with domestic production, the statement added.
(Writing by P Deol; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
