Dana Gas Egypt gas discovery at the North El-Basant 1 exploratory well in the onshore Nile Delta has added a significant new source of supply, with initial estimates indicating 15–25 billion cubic feet (bcf) of natural gas in place. Once connected to Egypt’s national gas grid, the well is expected to produce more than 8 million standard cubic feet per day (mmscfd), bolstering domestic energy security and supporting the country’s efforts to reduce fuel imports.
Part of a $100 million drilling programme
North El-Basant 1 is the fourth successful well in Dana Gas’s ongoing 11-well development and exploration programme in Egypt under its current $100 million investment cycle. The first three wells, completed earlier this year, collectively added around 10 mmscfd of gas, while the full programme is estimated to deliver about 80 bcf of recoverable reserves once finished. In parallel, the company has recompleted three existing wells, adding a further 9 mmscfd outside the programme. Together, these efforts have contributed roughly 30 mmscfd of extra capacity to Egypt’s gas network. The next well in the sequence, Daffodil, is scheduled to be spudded in early January 2026.
Cutting Egypt’s reliance on imported LNG
Dana Gas CEO Richard Hall said the new discovery confirms the strength of the company’s strategy to grow its reserves base in a mature, well-understood producing region. He noted that the North El-Basant result builds on recent momentum and supports a wider push to increase domestic gas supply, replenish reserves, and reduce Egypt’s dependence on imported LNG and fuel oil. Over time, the programme is expected to generate more than $1 billion in savings for the national economy by substituting local gas for higher-cost imports.
Hall also highlighted the importance of collaboration with Egyptian authorities. An agreement with EGAS has given Dana Gas additional acreage on improved fiscal terms and allowed the company to accelerate drilling. He stressed that regular and timely payments from partners are critical to sustaining investment levels. For Egypt, the North El-Basant discovery aligns with broader goals of stabilising local gas availability, optimising recovery from existing fields, and leveraging private-sector partnerships to underpin long-term energy security.
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