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Two North Sea oil fields get green lights

Dec. 17, 2012 at 2:41 PM   |   Comments

ABERDEEN, Scotland, Dec. 17 (UPI) -- Britain's Department of Energy and Climate Change said Monday it had given the green light to Dana Petroleum's development of two North Sea oil fields.

"I am delighted to announce the go-ahead for this project, which will bring new jobs and create new opportunities for U.K. companies to compete for key parts of the work," said Minister of State for Energy and Climate Change John Hayes, referring to the Harris and Barra oil fields in the North Sea, estimated to contain 45 million barrels of recoverable oil.

"Dana Petroleum has really demonstrated its commitment to the North Sea and in doing so is playing its part in helping to secure the U.K.'s future energy needs," Hayes said in a statement.

The oil company, based in Aberdeen, Scotland, has set its sights on doubling is current production, said Marcus Richards, the firm's chief executive officer.

"The Western Isles project is at the heart of our growth strategy. Unlocking the potential of these new fields is a significant milestone as we aim  to double our production to 100,000 barrels a day by 2016," he said.

Topics: John Hayes
© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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