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Sunday, 07 September, 2008, 03:20 GMT | more prices >>

Dana takes $120m Sharjah plunge



By Upstream staff 

Dana Gas has taken the plunge off the United Arab Emirates, tying up a $120 million, 25-year exploration and development programme for the Western Offshore concession off Sharjah.

The concession is Dana's first offshore upstream asset in the Middle East.

Preliminary costs of the development phase of the project are estimated at $55 million, while the cost of exploration is estimated at a further $65 million.

The concession covers more than 1000 square kilometres, with the deal including plans to develop the Zora gas field, which was discovered in 1979.

The work programme will include completion of drilling work, resumption of horizontal drilling of two wells originally drilled by Crescent Petroleum, the installation of offshore platforms for immediate processing and production and a 25-kilometre offshore pipeline for processed gas.

The agreement also includes exploration work within the concession area, including geological evaluation studies, seismic surveys and exploration drilling.


Wednesday, 12 March, 2008, 11:24 GMT  | last updated: Wednesday, 12 March, 2008, 11:36 GMT

Signed and sealed: Dana commits to a 25-year exploration and development programme off Sharjah
 

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