Dana Takes Over Operatorship of Triton FPSO

Wed, 03 October 2012

Today Dana Petroleum (E&P) Limited, a wholly owned subsidiary of Dana Petroleum plc (Dana) takes over the operatorship of the Triton floating production storage and offloading vessel (FPSO) from Hess and Dana acquires Hess’ 28.28% stake in the Bittern field, increasing Dana’s share in the field to 33%. Paul Griffin, Dana’s UK Managing Director, said, “This is a significant deal for Dana and consolidates our strong position in the Central North Sea.

As the principal production facility for the Greater Guillemot Area and Bittern, Dana will seek to optimize output safely and efficiently across the Triton area. “This underlines our strategy to move from largely non-operated activities to full-operated field management in the UK Continental Shelf. We believe flexible, mobile export solutions are the way forward and with our experience of operated assets in The Netherlands, Egypt and subsea assets in the UK, we have the capability and skills to succeed.

“Today, we also welcome a team of very experienced people to Dana who will help us fulfill our ambition of becoming a leading international oil and gas company operating in Europe, Africa and the Middle East.” The Triton FPSO produces oil and gas from the Bittern, Guillemot West and North West, Clapham, Pict and Saxon fields. It is located in the UK Central North Sea, Block 21/30, approximately 120 miles east of Aberdeen.

Joint venture partners in Triton FPSO are Dana (51.966%), Shell UK (26.42%), Esso Exploration and Production UK Limited (20%) and Endeavour (1.614%).

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