Dana Gas, the Gulf's only listed natural gas company, said on Tuesday it has made a new gas discovery in Egypt, the company's fifth gas find in the country.
"A preliminary estimate of the discovered reserves in the new pool (El Wastani formation) is in excess of 60 Bcf of gas, with a possible upside still under evaluation," the company said in a statement.
The company, which plans to list its shares in London, will prepare a separate development plan for this new pool and is still evaluating a possible upside in reserves.
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