Dana Petroleum welcomes publication of Sir Ian Wood’s recommendations

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Dana Petroleum has today welcomed the publication of the final report by Sir Ian Wood on maximising recovery in the UKCS.

The report UKCS Maximising Recovery Review was commissioned by the UK Government in June last year.

Graham Scotton, Dana’s acting Chief Executive said: “Dana welcomes the publication of Sir Ian's final report and the broad direction of his recommendations. We are also pleased that the Government has already expressed its willingness to back Sir Ian's recommendations and implement them on a fast-track basis. Greater collaboration and more efficient use of new and existing infrastructure is absolutely vital to the industry's future success, and changes must be implemented as soon as possible. The changing dynamics of the North Sea mean that operators, policy makers and regulators alike will have to think differently to maximise recovery. We look forward to seeing these proposals taken forward.”

ENDS

 

About Dana Petroleum plc
Dana Petroleum plc, a wholly owned subsidiary of the Korea National Oil Corporation (KNOC), is an international oil and gas business with operations in the UK, Egypt, Norway, the Netherlands and Africa, producing 50,000 barrels of oil a day. Dana’s ambition is to become a leading international oil and gas company operating in Europe, Africa and the Middle East and aims to grow production significantly by investing around $1 billion a year to increase the size of the company and create value for our shareholder.

For further information contact:

Andrew McCallum
Director of Corporate Affairs and Business Support
+ 44 (0)1224 616100 

Gordon Welsh
Group Corporate Communications Manager
+ 44 (0)1224 616100

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