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UK’s Dana Petroleum discovers new North Sea gas field

  • Märkte: Crude oil, Natural gas
  • 20.10.23

UK-based exploration and production firm Dana Petroleum has discovered a new gas field in the 42/27 block in the southern North Sea.

Dana — which is also the block operator — discovered high-quality gas through its exploration of the Earn structure in the 42/27 block, South Korean state-owned oil firm KNOC said on 19 October. Dana is a wholly-owned KNOC subsidiary.

Dana acquired a 50pc stake in the 42/27 block in 2020 and started full-scale exploration drilling in July. The firm is conducting an evaluation test to determine the exact volume of resources in the Earn structure, which is located 4km west of Dana's Tolmount Southern North Sea gas development. No further details were disclosed.

Dana holds a 50pc stake in Tolmount, with operator UK oil and gas producer Harbour Energy taking the remaining 50pc. The Tolmount Main gas field has 24mn bl of of oil equivalent (boe) of reserves and started full-scale output last year. Dana's Tolmount East field, with reserves of 18mn boe, is scheduled to start production in next year's first quarter.

Dana's net share from Tolmount is 20,000 b/d of boe, with operations and interests in the UK, the Netherlands and Egypt. The firm's average production of oil and gas was at 40,416 b/d in 2022, according to Dana's website.

"Although large-scale exploration investment is difficult owing to the high risk, we will continue to strengthen low-cost and low-risk exploration activities to secure future growth engines for Dana," Dana chief executive officer Nam Jae-gu said.


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