Nicosia, Jan 29: Sharjah-based Dana Gas in a recent announcement has said that its current production of 32,000 barrels of oil equivalent exceeded the company’s expectations.

The company attributed its good performance to the fact that its new discoveries have started production earlier than anticipated.

The El-Baraka discovery at Dana Gas’ wholly owned Komombo concession in Upper Egypt made its first shipment of oil several months ahead of schedule. The second discovery at West Manzala has also started production.

Dana Gas entered into the energy exploration and development field in Egypt last year through the acquisition of Centurion Energy for
250 million dollars. It currently has three development leases and two exploration blocks in the Nile Delta.

Rashid al-Jarwan, Dana Gas General Manager, said that the year 2008 would be a busy one for Dana Gas with an active exploration and drilling program in Egypt, as well as the start up of its major projects in the United Arab Emirates and Northern Iraq. (ANI)