UAE-based oil and gas company Dana Gas has completed drilling operations at its Merak-1 well located offshore Egypt, but failed to find commercial hydrocarbons.
The well, which was spud May 20, 2019, was drilled by the Tungsten Explorer drillship, contracted from ADVantage Drilling Services SAE – a joint venture between ADES and Vantage Drilling.
The well is located in 755 meters of water in the North El Arish (Block 6) Concession in Egypt.
Dana Gas said on Saturday, July 27 that the well was drilled to a total depth of 3,890 meters and encountered 46 m of sand in the Miocene objective interval, but did not encounter commercial hydrocarbons. The well is being plugged and abandoned.
According to the company, the well costs are expected to be below budget.
Dana Gas added that the Block 6 Concession area contains at least three other independent prospects with material resource potential that are unaffected by the Merak-1 well result. The Block 6 Concession area is located in the Eastern Mediterranean Basin where other world-class giant natural gas discoveries have been made in recent years, the company noted.
The company produced 34.1 kboed from its operations in Egypt.
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