Wednesday, April 16, 2014

Drew EGC Report

Dana & Sorgenia Granted UKCS Licence

British independent Dana Petroleum and Sorgenia E&P (UK) are set to take a 50 per cent interest each in three blocks in the UK North Sea, as part of the 26th licencing round from the UK Department of Energy and Climate Change (DECC).

The licence grants the companies exploration rights in Blocks 42/27, 47/2b (split) and 47/3g (split) in the sothern area of the UK North Sea. Under the licence, Dana will act as operator of the project, with each company taking a 50 per cent stake in the partnership.

The blocks are adjacent to the massive Tolmount gas discovery, made in October last year. Well testing at the Tolmount field indicated a maximum stable rate of 50 million standard cubic feet of gas per day.

UK Managing Director of Dana, Paul Griffin said the licence would also complement Dana's 45 per cent stake in the Platypus gas field, which has estimated reserves of 180 billion cubic feet of gas in place.

"We are pleased to have secured these new blocks in an area that is well known to us and includes our potential Platypus and Tolmount developments," he said. "Our drilling programme for 2012 will include six exploration wells in the North Sea and West of Shetland as we seek to further enhance our strong reserves position."

Dana and Sorgenia will be required to reprocess of 3D seismic as part of their work obligations under the licence.

The newly acquired blocks will buoy Dana's current acreage on the UK Continental Shelf, which is already the second largest in the UK North Sea.

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