Dana awarded North Sea blocks

Dana Petroleum Norway AS has been awarded interests in eight offshore blocks under four new production licenses by the Norwegian Ministry of Petroleum and Energy.

Offshore staff

ABERDEEN, UK -- Dana Petroleum Norway AS has been awarded interests in eight offshore blocks under four new production licenses by the Norwegian Ministry of Petroleum and Energy.

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

The company's first three licenses are in the North Sea; 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 neighboring exploration licenses PL027B and D (Dana 40%). The company believes this is a highly prospective area within a short tie-back distance of the FPSOJotun. The blocks in PL513 are located immediately west of the Victoria gas discovery in the Norwegian Sea.

The work programs include firm wells on PL 497 and PL 504.

12/23/2008

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