Dana Gas Boosts Egypt Gas Reserves by 21.3 Bcf in First Nine Months of 2025

 Dana Gas Boosts Egypt Gas Reserves by 21.3 Bcf in First Nine Months of 2025

Dana Gas has reported a significant increase of 21.3 billion cubic feet (bcf) in proved and probable gas reserves in Egypt for the first nine months ending September 30, 2025. This milestone is part of the company’s ongoing $100 million investment program under the 2024 Consolidated Concession Agreement.

The company successfully drilled three new wells in the Nile Delta, including Begonia-2 and Salma Delta-6, which alone confirmed 15 bcf of gas reserves with an additional 3 bcf upside potential. These wells are projected to deliver 10–12 million standard cubic feet per day (mmscf/d) of production by the end of 2025. In addition, Dana Gas re-completed three existing wells, contributing 6.3 bcf to reserves. The company currently produces 9 mmscf/d in Egypt.

Despite a 28% decline in Egyptian production—down to 12,300 barrels of oil equivalent per day (boe/d) mainly due to natural field declines—Dana Gas expects production growth to resume in 2026 as part of its ongoing expansion program.

The investment initiative is designed to increase gas recovery by 80 bcf, generating estimated cost savings of over $1 billion for Egypt by reducing dependence on imported LNG and fuel oil.

Financially, Dana Gas reported a net profit of $103 million (AED 379 million) for the first nine months of 2025, compared with $112 million (AED 410 million) in the same period of 2024. The decline is mainly attributed to lower production in Egypt and a dip in global oil prices. Average production for the nine months stood at 50,900 boe/d, compared to 55,300 boe/d in the previous year.

Richard Hall, CEO of Dana Gas, commented:

"Even in a lower oil price environment, our operations remain resilient. The completion of the KM250 facility in Iraq is a major milestone that strengthens our production profile and sets the stage for future financial gains."

The KM250 expansion in the Khor Mor field adds 250 mmscf/d of gas processing capacity, increasing the total installed capacity in the Kurdistan Region of Iraq (KRI) by 50%. Once fully operational, this expansion is expected to boost Dana Gas’s revenue by up to 35%.

Founded in December 2005, Dana Gas is the Middle East’s first private regional natural gas company, publicly listed on the Abu Dhabi Securities Exchange (ADX), with assets across Egypt, KRI, and the UAE. The company remains committed to long-term growth through strategic investments in Egypt and continued development in KRI.