Dana Petroleum announces new Managing Director for Norway
Aberdeen-based Dana Petroleum has announced the appointment of a new Managing Director for its Norwegian activities.
Reidar Hustoft took up his new position on 1 February replacing John M Dahlen, who is retiring from the company. John was a co-founder of Ener Petroleum which was acquired by Dana in 2007.
Reidar previously ran Dana’s business in the Netherlands and is originally from Norway. He is moving back to his native country after spending over 30 years working in the oil and gas industry in the North Sea. Prior to joining Dana he worked with Petro-Canada, Procon Drilling Services, DNO Heather and Unocal International.
Reidar said: “Significant unexplored areas remain offshore Norway, and I am delighted to be moving back to Norway at such an interesting time for our Norwegian offshore activities. We have plans to drill a number of exploration wells over the next 2 – 3 years.”
NOTES TO EDITORS
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.
About Dana Petroleum plc in Norway
Our business in Norway is focused on the Norwegian Continental Shelf. We have interests in more than 20 exploration and production licenses and are operator of three. Dana’s presence in Norway was established through the acquisition of Ener Petroleum in 2007. Ener Petroleum was founded in 2005, and went on to acquire a 45% interest in the Jotun field from Shell the following year.
Through APA (Awards in Pre-Defined Areas) and ordinary licensing rounds, farm-ins and asset swaps, we have built a successful business with an average annual production of 1,700 barrels of oil per day. We also have a 10% interest in the Centrica-operated Fulla gas/condensate discovery which is being evaluated for development.
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