Dana Petroleum today reported strong production growth in the North Sea.
More growth is expected as the group completes its purchase of a significant portfolio of oil production and developments interests in the North Sea from Agip (UK).
The acquisition of these assets from Agip, alongside Dana's growth from its existing oil and gas fields, will enable the company to increase its oil and gas production "significantly", it said.
Dana's average production for the first six months of 2002 was 5,275 barrels of oil equivalent per day. By September this had risen to almost 10,000.
The board of Dana also announced that on October 12th, the newly developed Otter field, in which Dana acquired a 19 per cent interest through the Agip acquisition, began production ahead of schedule.
AFP