Dana Petroleum welcomes the strong indication of significant volumes of gas in a field in the UK North Sea following the drilling of an appraisal well.
Dana has a joint 50 per cent stake in the Tolmount field with the operator E.ON E&P in what could be one of the largest discoveries in the UK Southern North Sea for several years.
Indications are the field could contain significantly higher volumes than originally believed. The recently completed appraisal well reached its targets within time and budget on 6th July.
The accumulation, which is close to existing gas infrastructure, is located 40 km off the UK coast, to the northeast of Easington, East Yorkshire, in block 42/28d of the Southern North Sea.
Dana’s UK Managing Director, Paul Griffin, said “We are delighted with the recent results of the side track well, and would like to thank E.ON E&P for leading the project successfully. Although we can’t yet confirm the field size, it’s clear that there is a strong possibility that Tolmount has the potential to be one of the largest gas discoveries made in the SNS over the last decade.”
NOTES TO EDITORS
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 60,000 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 up to $5 billion over the next five years to increase the size of the company and create value for our shareholder.
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.
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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