Dana Gas extends legacy in Egypt

Emirati energy company Dana Gas said Monday it was the successful bidder for two onshore license areas in the Nile Delta region onshore Egypt.

Regional subsidiary Dana Gas Egypt was awarded the rights to operate in the North el-Salhiya and el-Matariya onshore areas in the Nile Delta.

"We are extremely pleased to have been awarded these two new blocks," Dana Gas Chief Executive Officer Patrick Allman-Ward said in a Monday statement. "The area is particularly well known to Dana Gas, given its long-term commitment to the Nile Delta."

Dana is the sixth largest energy company working in Egypt. Overall, its share of production has reached 39,100 barrels of oil equivalent per day.

Dana will hold 100 percent of the interest in the North el Salhiya area and work on a parity basis with BP at el-Matariya.

"We are delighted to be partnering with BP, a leader in deep well drilling in the Nile Delta," Allman-Ward said.

Dana gave no estimate of the reserve potential. The two blocks have a six-year exploration period for the Emirati company.