DANA AWARDED NINE NEW BLOCKS OFFSHORE NORWAY

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Dana Petroleum is pleased to announce that its wholly owned subsidiary, Dana Petroleum Norway AS, has been awarded interests in nine offshore blocks under six new Production Licences (PL) by the Norwegian Ministry of Petroleum and Energy. These awards have been made through the 2009 Norwegian APA Licensing Round, on the Norwegian Continental Shelf.

  1. 20% interest in PL359, Block 3/7, in the Southern North Sea with partners Nexen (operator), PetroCanada and RWE. The work programme includes acquisition of 3D seismic and the bid was based on an oil prospect with significant volumes.
  2. 30% operating interest PL562, Blocks 6609/5 and 6, in the Norwegian North Sea in the proximity of Dana’s existing acreage. The partnership group (E.ON Ruhrgas, Noreco, North Energy and Petoro) has committed to seismic reprocessing and acquisition and already recognises two substantial prospects in the blocks.
  3. 30% interest in PL548S, Block 25/7, with Det norske oljeselskap (operator) and Bridge Energy in the Jotun area of the Central North Sea. Two prospects are recognised in this block which, given their close proximity to the existing Jotun infrastructure, have a low threshold for commerciality.
  4. 20% interest in PL549S, Blocks 30/10 and 25/1, in the Central North Sea with partners Det norske (operator), Svenska and Bayerngas. These blocks are adjacent to the Fulla discovery made in 2009 and contain a number of substantial gas prospects which could be tied back to neighbouring infrastructure.
  5. 30% interest in PL504BS, Block 25/7, in the Jotun area of the Central North Sea which is an extension to Dana’s existing acreage in this area
  6. 20% interest in PL497S, Blocks 7/8 and 7/11, which is an extension to existing acreage in the Southern North Sea and where the Geite and Kniven prospects have already been identified.

Chief Executive, Tom Cross commented:

“Dana is delighted with the award of these new licences. Some 10 new exploration prospects have already been identified within these blocks with total unrisked reserves potential of more than 200 million barrels of oil equivalent net to Dana. This provides a significant portfolio of new opportunities, building upon Dana’s existing business in Norway.”

29 January, 2010

 

For further information please contact:

Tom Cross, Chief Executive Dana Petroleum plc 01224 652400
David MacFarlane, Finance Director    
Stuart Paton, Technical & Commercial Director    
Nick Elwes College Hill Associates 020 7457 2020

 

NOTES TO EDITORS:

Dana Petroleum plc is a leading independent oil and gas, exploration and production company listed on the London Stock Exchange (symbol: DNX), and is a constituent of the FTSE 250 Index.

The Group currently produces from 36 oil and gas fields across four countries and holds more than 80 interests in exploration and production licences spanning eight countries. Dana’s activities are focused within its two core areas of Europe (North Sea) and Africa (North & West).

In Africa, Dana has production, development and exploration interests across Egypt, oil and gas discoveries offshore Mauritania and Morocco, and additional exploration opportunities offshore Senegal.

In Europe, Dana’s producing interests are focused on oil and gas in the UK North Sea, oil offshore Norway and gas offshore The Netherlands. Dana also has significant development and exploration opportunities across the North Sea.

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