Dana Gas has identified an estimated 10 billion cubic feet (Bcf) of gas reserves in its latest well, significantly exceeding the original forecast of 3 Bcf.

The result opens up additional development and exploration opportunities across the licence area and has the potential to contribute approximately 12 Bcf of future gas resources once developed, the company said in a statement to the Abu Dhabi Securities Exchange (ADX).

Dana Gas plans to drill four further wells before the end of 2026.

Production returned to growth in the first quarter for the first time since 2017, and our latest well results have exceeded expectations, the statement said.

In 2025, the company drilled four wells and performed workovers on three additional wells, adding nearly 30 million standard cubic feet per day (MMscf/d) of production and 36 Bcf of reserves.

Egypt announced earlier this month that it cleared all outstanding debt to foreign oil companies.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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