WHAT WE DO
It’s all about oil and gas. We use our technical expertise to explore for it, develop it and produce it in Europe and the Middle East. We’re building a company that operates at every stage of the oil and gas lifecycle, both offshore and onshore.
We operate across the first four phases, from exploration through to production.
Phase 1: Exploration
We find the oil and gas that helps meet the energy needs of the complex modern world we live in.
Dana’s exploration experts harness their years of accumulated skills and experience with the most advanced technology to find hydrocarbons beneath the surface of the earth.
The people who do this work are industry-leading geoscientists. It is their job to help make the earth yield up its precious reserves of oil and gas.
They use a variety of tools including topographical maps, 3D images and seismic surveys to examine the viability of prospects. After they have undertaken rigorous technical work they will have a good idea of the risks and whether a prospect is worth further evaluation.
An exploration well is then drilled to discover whether all their painstaking efforts have paid off – and if oil and gas is present.
Phase 2: Appraisal
When oil and gas is found it is only the first part of a very long journey to bring this energy into people’s homes, to power industry or fill the petrol tank. We then move on to the appraisal phase.
At this stage once a discovery is made, we will drill further wells. This is when we find out how big the discovery may be and how easy or difficult it will be to extract.
We will then have a good idea of the sort of quantities of hydrocarbons that are in the ground. Although ultimate recovery of a well cannot be known with certainty until the well ceases production, our experts will calculate an estimated ultimate recovery (EUR) based on decline rate projections years into the future.
If we find enough oil and gas – and it can be brought onshore safely and profitably – we take the next step forward. We may choose to sell our interest in a discovery or proceed to the development phase. We often work with partners to share costs and pool expertise.
Phase 3: Development
Once we have a commercial discovery we need to develop the best solution to get the oil and gas out of the ground safely and efficiently.
To get to this stage we need a lot of skill – taking it forward requires significant investment as well.
The earth does not yield up hydrocarbons easily. Oil fields are often located in challenging offshore environments. Even when onshore they can present all kinds of challenges – some technical and logistical and some geopolitical.
Our experts consider a whole range of factors during the development phase. They will decide whether gas or water has to be injected into the wells to maintain pressure to help bring hydrocarbons to the surface.
They will decide on the best solution for bringing the oil and gas onshore. That may mean using conventional platforms or Floating, Production, Storage and Offloading vessels (FPSOs). It may mean using a subsea tieback to an existing platform. They will also consider how to use existing subsea infrastructure or whether new infrastructure has to be developed.
Phase 4: Production
Production is our life blood as an oil and gas company. By selling it we earn the cash we need to reinvest in the business.
At this stage we can now bring oil and gas onshore from platforms or FPSOs – our production assets. They have to be maintained and monitored 24/7 to ensure they can operate safely and efficiently. Field lives may run into decades and production assets have to be looked after throughout their lifecycle and safely decommissioned at the end of their production life.
We have more than 48 producing fields in our portfolio with an average daily production of 65,000 barrels of oil and gas per day