Abu Dhabi-listed Dana Gas has had a disappointment with its high-profile Merak-1 well offshore Egypt, writes Nassir Shirkhani.
Dana Gas said in a statement to the Abu Dhabi stock exchange it is plugging the deep-water well in Block 6 after failing to make a commercial discovery.
The company spudded the well in May, hoping to discover up to 4 billion trillion feet of gas.
