Dana takes Suez equity

Offshore staff

(Egypt) Dana Petroleum has acquired Cepsa's 20% stake in the South Feiran concession in the Gulf of Suez, offshore Egypt. This covers an area of 350 sq km, with water depths ranging from 50-80 m. The other partners are Eni subsidiary IEOC and Phoenix Redux.

A 3D seismic survey is planned over the concession's eastern portion, the aim being to better define prospects identified from existing 2D data. Exploration drilling could follow in 2007.

Off northwest Africa, Dana partners Moroccan operator Onhym in the North-West Safi exploration license. Here a new 2,150 sq km 3D seismic survey was recently 40% complete. Again, the aim is to start drilling in 2007.

12/29/05