Dana Gas hits 70,000 bpd mark

Company’s principal operations are in Kurdistan Region of Iraq (KRI) and Egypt

Dana Gas, the Middle East’s largest regional private sector natural gas company, announced that the ramped up production from its debottlenecking project in the Kurdistan region of Iraq has resulted in 70,000 oil barrels per day (bpd) on November 19, and has been sustained above that level since.

The company’s principal operations are in the Kurdistan Region of Iraq (KRI) and Egypt, where the drilling of the Balsam-8 well has also led to a sharp increase in overall production. Current group production, in excess of 70,000 bpd, represents a significant increase compared to the company’s nine-month 2018 average of 62,250 bpd.

Dr Patrick Allman-Ward, CEO of Dana Gas, said: “Production in excess of 70,000 barrels oil equivalent per day is a great achievement for Dana Gas. At the start of the year, we planned a drilling programme in Egypt and a debottlenecking project in KRI that would significantly increase production. We have successfully delivered both projects.

“The increase in production will help offset the lower realised hydrocarbon prices that have impacted the oil industry in the last quarter and support growth in our revenue and net profit figures for the full year of 2018 and beyond.”

In the fourth quarter of 2018, Dana Gas Egypt completed the drilling of the Balsam-8 well and tied it in to the network. The well was completed ahead of schedule and under budget, adding over 5,000 bpd to the company’s output.