German and Danish North Sea licenses to be bought for $44m

Dana Petroleum has lined up a deal worth $44m (£27m) to buy oil and gas licenses in the German and Danish sectors of the North Sea from PA Resources. The firm could potentially recover as much as 32 million barrels of oil equivalent (MMboe) after the buy. Dana will buy a 40% share in the […]

DECC gives go-ahead for $1.6bn North Sea project

A $1.6 billion (£987m) project to develop two oil fields in the North Sea was given the green light by the Government today. Led by Aberdeen-based Dana Petroleum, the Western Isles project is expected to produce more than 40,000 barrels of oil equivalent, adding more than 30,000 barrels to the firm’s daily production. The project […]

Guinea oil exploration starts up again

American oil and gas company Hyperdynamics Corporation has announced it has resumed drilling on the Sabu-1 exploration well off the coast of the Republic of Guinea. Earlier this month, the company said mechanical and operational issues had stopped drilling at the well. Drilling restarted from a depth of 1,440 meters and is planned to continue […]