Dana focused on growing production

Dana Petroleum, a UK-based oil and gas exploration and production company, yesterday reported a drop in its 2013 production, when compared to the 2012 levels.

Overall production fell to 46,891 boepd in 2013 from 57,284 boepd in 2012. Dana said that this reflects the challenges encountered during the year.

These included the loss of a full year’s production from the Banff, Kyle and Enoch fields due to on-going shutdowns and extended operational shutdowns in the Greater Guillemot Area.

Graham Scotton, Acting Chief Executive said: “Our revenues have stood up well in the face of production challenges. Going forward, we are focused on growing our production, building reserves and delivering the Western Isles project. We are investing around £600 million a year to achieve this and create a robust, high-performing business.”

The company reported profit after tax of £105.13 million (£110.08 million in 2012) on revenues of £1 billion in 2013 (£1.09 billion in 2012).