Dana Gas hits ‘significant’ gas reserve with North El-Basant 1 exploratory well

Sharjah’s Dana Gas, the largest private-sector natural gas company in the Middle East, has announced a significant new gas discovery with the successful drilling of the North El-Basant 1 exploratory well in Egypt’s onshore Nile Delta.

In a regulatory filing with the Abu Dhabi Securities Exchange (ADX), the company said initial well results indicate estimated reserves of 15-25 billion cubic feet (bcf) of gas, with production expected to exceed 8 million cubic feet per day (mmscfd) once the well is connected to the national network.

Dana Gas expands Egypt operations

This is the fourth well of the 11 development and exploration wells contract the company signed as part of its US$100 million investment programme to support Egypt’s domestic gas production, increase reserves and meet growing energy demand.

Richard Hall, CEO, Dana Gas, commented: “The latest drilling success reinforces the value of our investment programme in Egypt and highlights the significant remaining potential within the Nile Delta.

“The North El Basant-6 result builds on the momentum of our earlier wells and supports our efforts to increase domestic gas supply and reserves. By increasing local gas production, the programme will help reduce Egypt’s reliance on imported LNG and fuel oil and is expected to generate more than US$1 billion in savings for the national economy over time.

“Our agreement with Egyptian National Gas Holding Company (EGAS) has enabled us to secure additional acreage under improved fiscal terms and to accelerate this new phase of drilling activity. We appreciate the strong cooperation from EGAS and the Ministry, and we remain committed to delivering the majority of our planned programme next year.”

Earlier this year, Dana Gas completed drilling of three wells, successfully adding 10 mmscfd. The programme is expected to increase long-term production and add approximately 80 bcf in recoverable gas reserves.

Dana Gas has also successfully recompleted three wells, adding 9 mmscfd of production outside the current investment programme.

The company expects to spud the fifth well in the programme, the Daffodil exploration well, in the first week of January 2026.