Scottish Labour Leader visits Dana Petroleum
Johann Lamont MSP, Leader of the Scottish Labour Party, visited Dana Petroleum yesterday (2 April) to find out more about Dana’s future plans both in the North Sea and internationally.
Dana's UK Managing Director Paul Griffin and Scottish Labour leader Johann Lamont
She was accompanied by Labour colleagues Dame Anne Begg MP, Lewis Macdonald MSP and Richard Baker MSP.
Paul Griffin, UK Managing Director of the Aberdeen-based company told Mrs Lamont and her colleagues about Dana’s ambitious plans to become a leading international oil and gas company operating in Europe, Africa and the Middle East. He also reaffirmed the company’s long-term commitment to the North Sea.
Mrs Lamont discussed Dana’s $1.6 billion Western Isles project which is expected to add 30,000 barrels of oil per day to Dana’s portfolio when first oil is produced in 2015. The project will also create several hundred jobs and provide valuable opportunities for UK companies over the course of its lifetime.
Paul Griffin said, “We are committed to the North Sea and are playing our part to secure the UK’s future energy needs. 70% of Dana’s production comes from the North Sea and the Western Isles project is at the heart of our growth strategy. Unlocking the potential of these new fields is a significant milestone as we aim to double our production.”
Johann Lamont, Scottish Labour Leader, said: “The oil and gas industry in Scotland presents exciting opportunities for our future economy and Dana Petroleum is an example of a company which is making the most of this potential.
“We are keen to listen and engage with key players who are at the forefront of this industry so that we can learn and help to support companies like them so that Scotland benefits from the opportunities that companies like Dana are creating.”
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. 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.
About Dana Petroleum UK
Our portfolio in the UK consists of exploration, production and development activities throughout the Northern, Central and Southern North Sea, West of Shetland, and in the Moray Firth. We hold a total of 20 operated and 35 non-operated licences acquired through successful licensing rounds, acquisitions and asset farm-ins. Our average annual production in 2012 was 33,000 barrels of oil per day. Our strategy is to continue to invest in our UK exploration portfolio and convert exploration prospects into reserves and production.
About the Western Isles Project
The Western Isles Project (Dana 77% and Cieco 23%) will develop two discovered oil fields called Harris and Barra in the Northern North Sea, 160km east of the Shetlands and 12km west of Tern field. It involves a subsea development of at least five production and four water injection wells plus two exploration wells tied back to a new build floating production, storage and offloading vessel (FPSO) with oil export using shuttle tankers.
Drilling is expected to begin in 2013 with subsea installation in summer 2014 and FPSO installation summer 2015. Plateau production is expected to add more than 30,000 boepd to Dana’s UK production. First oil is expected in 2015 and the estimated field life is 15 years.
For further information contact:
Director of Group Communications and External Affairs
+ 44 (0)1224 616100
Group Corporate Communications Manager
+ 44 (0)1224 616100
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