Dana Petroleum Discovers Oil at Egypt Well, South Korea Says

Dana Petroleum Plc, which was acquired by state-run Korea National Oil Corp., discovered crude oil at a well in Egypt, South Korea’s energy ministry said.

Drilling at a well in the South October concession produced about 1,343 barrels of oil a day, the Ministry of Knowledge Economy said today in an e-mailed statement. Dana owns 65 percent of the concession while Japan’s Inpex Corp. holds the rest.

To contact the reporter on this story: Shinhye Kang in Seoul at skang24@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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