Dana to Move Forward with Nefertiti Development

Dana Petroleum has been given the go-ahead by the Egyptian government to further develop the Nefertiti oil field in the Gulf of Suez following the successful completion of an appraisal well.

The Aberdeen-based oil and gas company, in partnership with INPEX, successfully drilled the exploration well Nefertiti-2X at the end of 2012. The well tested at a maximum stabilised flow rate of 1,850 barrels per day (b/d) with an Electrical Submersible Pump (ESP), and the field is expected to produce around 2,500 b/d (1,625 b/d net to Dana) when it comes on stream in around six months.

Following the successful appraisal, the two companies agreed with the Egyptian General Petroleum Company on Nov. 7, 2012 that the Nefertiti field was a commercial field. Eng. Osama Kamal, Minister of Petroleum and Mineral Resources, approved the lease on Jan. 20, 2013.

Dana’s Managing Director in Egypt Nick Dancer said, "The Nefertiti field is a first for Dana in that it is an offshore field that we have explored by drilling extended reach wells from an onshore location. Whilst increasing the complexity of the wells, it reduces the drilling and subsequent development costs and reduces development time as well as protecting the offshore environment including a number of coral reefs. I’m delighted we’ve been given the green light to progress the development, and also undertake further drilling in the area to test a different play concept in the Nefertiti Field."

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White House Fracking Group: Positive Step Forward

Credit where credit’s due: The White House issued an executive order Friday creating an interagency working group to coordinate the administration’s review of hydraulic fracturing. It’s a welcome step considering what was developing – a regulatory mishmash wrought by the 10 separate federal agencies that were looking at fracking rules and policies. API President and CEO Jack Gerard:

“We’re pleased that the White House recognizes the need to coordinate the efforts of the 10 federal agencies that are reviewing, studying or proposing new regulations on natural gas development and hydraulic fracturing. We have called on the White House to rein in these uncoordinated activities to avoid unnecessary and overlapping federal regulatory efforts and are pleased to see forward progress.”

The United States is enjoying an energy revolution thanks in large part to hydraulic fracturing – producing record amounts of oil from North Dakota and ample supplies of affordable natural gas from a handful of other states. Energy, energy-related jobs and associated economic growth are the result – as well as boosts to other sectors including manufacturing and the chemical industry.

Yet, the possibility loomed that fracking and its benefits could be smothered by a regulatory jungle from Washington, with needless delays and unnecessary costs discouraging investment and innovation. If the new working group prevents this, it will be a good thing.

We recognize the new group is less than 24 hours old, but some key points it should consider:

Hydraulic fracturing is the chief reason the U.S. is having an energy revolution. Without fracking, there’s no revolution.The states already have sound regulatory regimes in place, assisted by initiatives like STRONGER, which are tailored to the different geographies, geologies and other specific factors where fracking is under way.Industry has led the way in terms of technological innovation and the development of operating standards, as well as efforts to provide information and create transparency in fracking operations.

Gerard:

“We have one of the largest known reserves of natural gas in the world, and we need public policies based on sound science in order to develop this affordable source of energy.”

The new working group is a step in that direction.

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