DUBAI: Dana Gas has increased its gas production in Egypt by about 10 percent with the start up of operations at two new fields, the UAE-based company said yesterday.
The West Sama-1 and Allium-1 fields in Egypt have started commercial operations less than two months after initial well testing, Dana Gas said in a statement.
“The wells increase our production by 20 million cubic feet per day, providing much needed additional production to the Egyptian market and maintaining vital supplies of gas for power generation,” Rashid Al Jarwan, the company’s acting chief executive, said.
Sharjah-based Dana Gas discovered three gas fields during drilling in Egypt’s Nile Delta Basin last year. It plans to bring the third, Balsam-1, into production in the first half of 2013.
EU PMI confirms business slump
BRUSSELS: Private business activity in the eurozone in February was not as bad as first feared but still showed the economic slump deepening, a key survey showed yesterday.
The Purchasing Managers’ Composite Index published by London-based Markit stood at a revised 47.9 in February, up from the initial reading of 47.3 but still well down from 48.6 in January and further away from the boom-bust line of 50. The reading “signalled a steepening of the downturn in business activity, contrasting with the easing trend which had been evident in the three months to January,” Markit said in a statement.
Brent operator still studying safety
DUBAI: The operator of the Brent pipeline said it was still studying whether it would be safe to reopen the oil link in the UK North Sea after a leak at a platform forced a shutdown on Saturday as a precaution.
“Before we re-open the Brent pipeline system, we have a series of internal safety checks to go through,” a spokeswoman for the Abu Dhabi National Energy Co’s UK business said yesterday. The 80,000 barrel per day (bpd) Brent system was shut for the second time in seven weeks after oil and associated gas was found to have leaked into a leg of the 10,000 bpd Cormorant Alpha platform, which has been offline since January. Agencies
