TRITON FPSO

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Overview

Dana has been a non-operated partner in the Bittern field since 2010, holding a 4.73% stake in the field until the acquisition of Hess’ 28.3% share in February this year. As one of the majority stakeholders in Bittern, Dana noted interest in taking over operatorship of the Triton FPSO and officially became operator on Monday 1 October 2012.

The Triton FPSO is located in block 21/30 approximately 120 miles east of Aberdeen, and produces oil and gas from the Bittern, Clapham, Pict, Saxon, Guillemot West and North West fields.

Triton is our first major operated asset in the UK, it consolidates our strong position in the Central North Sea and is a core part of our strategy to acquire more operated positions where there is a strong commercial and operational rationale to do so.

The synergies realised from Dana’s operatorship of both the Greater Guillemot Area subsea facilities and the Triton FPSO will help maximise value from our interests in the area.

In addition to the direct operational benefits associated with operatorship of Triton, it will also give us valuable operational experience of FPSOs as we look forward to our $1.5bn Western Isles Development Project in the Northern North Sea, which involves the construction of a new-build circular FPSO, with first oil expected in 2015 at c.40,000 boepd.

Joint venture partners in Triton FPSO are Dana (51.966%), Shell UK (26.42%), Esso Exploration and Production UK Limited (20%) and Endeavour (1.614%).

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Press release 01 October 2012	View
Project factsheet October 2012	Download PDF (1.0MB)