Dana Bags 8 New Blocks Offshore Norway

Dana Petroleum announced that its wholly owned subsidiary, Dana Petroleum Norway AS, has been awarded interests in eight offshore blocks under four new Production Licenses (PL) by the Norwegian Ministry of Petroleum and Energy. These awards have been made through the 2008 Norwegian APA Licensing Round, on the Norwegian Continental Shelf.

Dana's new license areas are as follows:

PL 494   
Block 2/9
40% interest with Dana as Operator
PL 497   
Blocks 7/7, 7/8 and 7/11
25% interest (Det norske Operator)
PL 504    
Block 25/7   
38.5% interest (Det norske Operator)
PL 513   
Blocks 6506/6, 6507/1 and 6507/4   
50% interest (Maersk Operator)

The first three licenses are situated in the North Sea and the fourth license (PL 513) is in the Norwegian Sea.
Block 2/9 is located in the Southern North Sea (SNS) close to the Valhall/Ekofisk area where Dana already holds a license (PL440). Blocks 7/7, 8 and 11 are located in the SNS and close to several producing fields in the UK sector as well as between discoveries in the UK and Norway. Block 25/7 is adjacent to Dana's Jotun producing oil field (Dana 45%) and neighbouring exploration licenses PL027B and D (Dana 40%). This is a highly prospective area within a short tie-back distance of the Jotun FPSO. The blocks in PL513 are located immediately west of the large Victoria gas discovery in the Norwegian Sea.
All the awards received were on Dana's top priority list for the APA 2008 Round. The work programs include firm wells on PL 497 and PL 504.
"Dana is delighted to have won these attractive new licenses, which significantly extends our exploration program in Norway's proven oil and gas areas," said Tom Cross Dana's chief executive. "In addition, Dana has applied for licenses in Norway's 20th Round where the focus is on the less mature, frontier areas. The awards for the 20th Round are expected during the first quarter of 2009. Overall, Dana now holds a substantial position offshore Norway, with 14 production licenses on the Norwegian Continental Shelf covering some 25 blocks."