Dana Petroleum awarded new North Sea acreage

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Dana Petroleum plc (“Dana”) has secured a further 22 blocks and partial blocks over seven areas in the North Sea in the UKCS 27th licencing round.

Of the awarded blocks, Dana is operator of block 13/23d (Dana 100%)  in the Inner Moray Firth (IMF) which is located immediately west of the Blake Field. This block was won with a firm well bid which is currently on Dana’s drilling schedule for 2014.

Paul Griffin, Dana’s UK Managing Director, said “We’re delighted with the results of the record breaking 27th round. Overall, this is a really positive result which supports our strategy to continue to invest in the North Sea by expanding our exploration portfolio. The newly awarded blocks will provide our UK business with new opportunities to add reserves as we aim to meet our growth target of 100,000 boepd by 2016.

“The awards follow successful outcomes from both of the exploration wells we’ve drilled so far this year; Platypus in the Southern North Sea and Contender in the Northern North Sea.”

A complete list of acreage awarded is included in the notes to editors.

 

ENDS

 

NOTES TO EDITORS

Blocks 217/22, 217/23, 217/24, 217/25, 217/29 and 217/30 (Dana 50% and operator) are located in the West of Shetlands (WoS). The work programme will consist of obtaining and reprocessing 2D seismic that will lead to a drill-or-drop decision on the Carron Prospect.

In partnership with Talisman (65% and operator) Dana (35%) has secured blocks 29/17, 29/18 (part), 29/22 (part) and 29/23 (part) in the Central North Sea (CNS). Work obligations will involve shooting an extensive new 3D seismic survey in an area previously covered only by 2D data.

In partnership with E.ON (50%, operator), Dana (50%) have been offered block 48/1e which lies between our recent successful Platypus Appraisal well and our producing field, Bababge.

In partnership with DONG (60%, Operator) Dana (40%) have been offered blocks 208/6 & 208/7 in the West of Shetlands (WoS). With a work commitment to obtain and re-process 3D seismic data the partnership will be refining the Mull and Glen Spey Prospects to enable a drill-or-drop decision to be made.

An extensive Frontier License including; 209/9 (part), 209/10 (part), 209/11 (part), 209/12, 209/13, 209/14 (part), 209/16 (part) & 209/17 (part) – has been offered to a partner group of DONG (35%, Operator), GDF Suez (25%), Nexen (25%) and Dana (15%).

A number of applications for blocks in the vicinity of Special Areas of Conservation (SACs) and Special Protection Areas (SPAs) have yet to be awarded, including three further applications Dana made in the Southern North Sea (SNS).

About Dana Petroleum plc

Dana Petroleum plc is a $4 billion oil and gas business with operations in the UK, Egypt, Norway, The Netherlands and Africa, producing 60,000 barrels of oil a day. Acquired by the Korea National Oil Corporation in 2010, our ambition is to grow to become a leading international oil and gas company operating in Europe, Africa and the Middle East. We will invest more than $5 billion over the next five years to more than double the size of the company and create value for our shareholder.

For further information contact:

Andrew McCallum
Director of Group Communications and External Affairs
dana.pressoffice@dana-petroleum.com
01224 616100