Dana Gas has successfully added 21.3 billion cubic feet of proved and probable gas reserves in Egypt during the nine months ending September 30, 2025, as part of the company’s ongoing $100 million investment program under the 2024 Consolidated Concession Agreement. The company drilled three new wells in the Nile Delta, with two wells, Begonia-2 and Salma Delta-6, confirming 15 billion cubic feet of gas reserves with potential upside of 3 billion cubic feet. These wells are expected to contribute 10 to 12 million standard cubic feet per day of production before the end of 2025.
Dana Gas also re-completed three existing wells, adding 6.3 billion cubic feet of reserves, which currently produce 9 million standard cubic feet per day. While the company reported a 28 percent decline in production from its Egyptian activities to 12,300 barrels of oil equivalent per day, primarily due to natural field declines, it noted that growth is expected to resume in 2026 through its ongoing investment program.
The investment program aims to increase gas recovery by 80 billion cubic feet and is expected to generate cost savings of over $1 billion for Egypt’s economy by reducing reliance on imported liquefied natural gas and fuel oil. The company recorded a net profit of $103 million for the first nine months of 2025, down from $112 million in the same period of 2024, primarily due to production decline in Egypt and lower oil prices.
Richard Hall, Chief Executive Officer of Dana Gas, noted that despite a lower oil price environment, the business has remained resilient, marked by significant completion of the KM250 facility in Iraq. The KM250 facility adds 250 million standard cubic feet per day of gas processing capacity to the Khor Mor field, increasing the site’s total installed capacity in the Kurdistan Region of Iraq by 50 percent. When operating at full capacity, this expansion is expected to boost the company’s revenue by up to 35 percent.
Source: egyptoil-gas.com