Abu Dhabi – Mubasher: Dana Gas commenced the recompletion works at the Balsam-3 well in Egypt’s onshore Nile Delta within the framework of the company’s $100 million investment program.

The initiative aims to support domestic gas production, expand reserves, and meet growing energy demand, according to a press release.

The successful recompletion of Balsam-3 is anticipated to reduce the risk associated with drilling exploration wells in the area and further enhance output.

Dana Gas announced the successful initial results from the Begonia-2 appraisal well, the first appraisal well within the Begonia development area and the first of eleven appraisal and exploration wells planned under the program.

Drilling and logging results indicate that the well contains 9 billion cubic feet (bcf) of gas as an initial estimate, which is subject to increase.

Located in the New El-Manzala concession and operated by El-Wastani Patrolmen Company (Wasco), Begonia-2 will produce an additional 5 million cubic feet daily.

The $ investment program is expected to boost Dana Gas’s long-term production in Egypt and add around 80 bcf in recoverable gas reserves over the two-year plan.

Drilling is being carried out using the EDC-54 rig, and the next well is expected to spud in August.

The ADX-listed company posted higher earnings in the first quarter (Q1) of 2025, driven by stronger gas pricing in Egypt following the Consolidation Concession Agreement.