Major gas discovery in Egypt’s Nile Delta strengthens Dana Gas’ $100 million drilling program

Dana Gas has reported a new gas find in Egypt’s onshore Nile Delta after successfully drilling the North El-Basant 1 exploration well, the company said on Dec. 11. Early results indicate estimated recoverable reserves of 15–25 Bcf, with production expected to exceed 8 MMcfed once the well is tied into Egypt’s national grid. 

The well is the fourth in the company’s $100 million development and exploration program, which includes 11 new wells aimed at boosting domestic gas supply, increasing reserves and supporting long-term output. Three wells drilled earlier this year added 10 MMcfd, and recompletion work on another three wells contributed an additional 9 MMcfd, bringing total new volumes from drilling and workovers to about 30 MMcfd.

Dana Gas said the program is expected to add roughly 80 Bcf of recoverable reserves over its life. The company also plans to spud the next well in the campaign—the Daffodil exploration well—in early January 2026.

“This latest success reinforces the value of our investment program in Egypt and highlights the significant remaining potential of the Nile Delta,” said Dana Gas CEO Richard Hall. “Increasing local gas production will help reduce Egypt’s reliance on imported LNG and fuel oil and is expected to deliver more than $1 billion in economic savings over time.”

The company credited improved fiscal terms under its agreement with EGAS for securing additional acreage and accelerating drilling activity. Dana Gas noted that continued timely payments from partners will be essential for sustaining its investment plans in the country.