ABERDEEN, UK – Dana Petroleum has agreed to buy Hess’ 28.3% interest in the Bittern field in the UK North Sea, increasing Dana’s share to 33%.
Hess will relinquish operatorship of the Triton FPSO that handles production from Bittern. Dana is keen to take on this role.
The transaction will add 2 MMboe/year to Dana’s UK production, lifting the total volume anticipated this year to 17 MMboe.
Dana Petroleum’s Group CEO Dr. Marcus Richards said: “This is a significant deal for Dana, which supports our goal to double production to more than 100,000 boe/d by 2016, as we strive to become a leading international oil and gas company operating in Europe, the Middle East and Africa...
“The synergies realized from Dana’s desire to operate both the Greater Guillemot Area subsea facilities and the Triton FPSO will help us maximize value from our interests in the Central North Sea. We have made extensive preparations, working closely with Hess, to enable a smooth transition should Dana become the new operator of the Triton FPSO.”
Bittern field is 200 km east of Aberdeen in the central North Sea. The other partners are Shell UK (25%), Shell EP Offshore Ventures (14.6%), Endeavour (2.4%) and ExxonMobil (25%).