ST Bahari-1 (SinoTharwa Drilling Company) (Jackup)

'ST Bahari-1' completes A12Z well on East Zeit Field

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02 March 2012

Dana Petroleum plc ("Dana") is pleased to announce that Zeitco, its joint venture with the Egyptian General Petroleum Company (“EGPC”), has successfully completed its first well of 2012, A12Z on the East Zeit field. The well was drilled with the newbuild SinoTharwa jackup rig ST Bahari 1, after successful commissioning with Zeitco. Initial production rates of over 1,000bbls oil per day have been recorded for the last week. When production stabilises, this will significantly enhance production from the East Zeit field, which was previously producing around 3,400bbls oil per day. Dana's Managing Director in Egypt, Nick Dancer, said; “A12Z is the first in a three well campaign, as part of a USD169 million investment Dana is making in Zeitco this year. This level of investment, coupled with the first multi-well campaign on the East Zeit field since 2004, shows Dana’s commitment to Egypt and partnership with EGPC.” Zeitco is an Egyptian joint venture company formed to operate the East Zeit concession, on behalf of the equal shareholders, EGPC and Dana Petroleum. Dana Petroleum has a 100% working interest in East Zeit.


More News for Operator: SinoTharwa Drilling Company

29 Jun 2012

'ST Bahari-1' completes A22 development well on East Zeit field

Dana Petroleum plc ("Dana") is pleased to announce it has just completed two successful appraisal/development wells in the Gulf of Suez area, with Zeitco, our joint venture company. Offshore, on the East Zeit A platform, the A22 development well was spudded on 30th April with the Sino Tharwa ST Bahari-1 jackup rig and reached a total depth of 12,051 feet maximum depth in the Kareem Marker Formation. The well targeted an undeveloped area of the field with poorer reservoir quality, and after drilling a 1,426-foot horizontal section within the Marker reservoir, has now been completed as an oil producer. Production started on 25 June, at rates around 2,000 bbls oil per day.

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