Dana Petroleum plc

What Dana Petroleum plc does

Dana Petroleum plc (legally Dana Petroleum Limited) is an oil and gas exploration and production company founded in 1994 and headquartered in Aberdeen, United Kingdom, with additional offices in London, The Hague, and Cairo. The company is a wholly owned subsidiary of Korea National Oil Corporation (KNOC), acquired in 2010, and operates as an independent upstream business under its own Board. Dana's portfolio spans three jurisdictions — the UK North Sea (73% of operations), the Netherlands, and Egypt — comprising 50 production licences, 16 producing fields (10 operated and 12 non-operated), 8 exploration licences with 3 discoveries in pre-development, and 9 UK decommissioning fields.

The company's core products are offshore production assets: in the UK, Dana operates the Triton FPSO (processing subsea fields including Bittern, Clapham, Pict, Saxon, Guillemot Area, Gannet E, and Evelyn) and holds a 50% interest in the Tolmount gas field operated by Harbour Energy; the Western Isles FPSO ceased production in May 2024 and is now in decommissioning. In the Netherlands, Dana operates the Hanze (F2-A) and De Ruyter (P11-B) gravity-based structure platforms and the Medway subsea development. In Egypt, Dana operates three concessions through the PetroNefertiti joint venture with EGPC. Underlying technology centres on subsea wells tied back to FPSOs and integrated production decks on GBS platforms, with hydrocarbon export via shuttle tankers (FPSO oil), direct offloading systems, and pipeline networks (NOGAT, Fulmar, Taqa P15-D).

Revenue is generated through sale of produced hydrocarbons at commodity prices (Brent Crude, NBP gas benchmarks), with no published pricing model. Income flows from both operated working interests and non-operated JV entitlements. Distribution is via shuttle tankers, TMLS direct offloading, and gas pipelines to onshore processing terminals. Customer concentration is structurally low at the offtake level (commodity sales) but operationally elevated at the JV partner level, with named partners including Serica Energy (Triton, 46%), Harbour Energy (Tolmount, 50%), Neo Energy (Western Isles, 23%), Kellas Midstream (50:50 infrastructure), EBN (Dutch state), and EGPC (Egyptian state).

Name

Dana Petroleum plc

Legal name

Dana Petroleum Limited

Website

https://dana-petroleum.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

251–500 employees

Short description

Dana Petroleum is an Aberdeen-based oil and gas exploration and production company operating FPSOs and offshore platforms across the UK North Sea, Netherlands, and Egypt, wholly owned by Korea National Oil Corporation (KNOC) since 2010.

Ownership category

akta.pro rank

Product category

Offshore Oil and Gas Exploration and Production

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (2111), Oil and Gas Extraction (211)

SIC

Crude Petroleum & Natural Gas (1311), Drilling Oil & Gas Wells (1381), Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Offshore E&P (Shallow/Deepwater, Subsea Production Systems) (EUALAAAI)

akta.pro secondary industries

Offshore Natural Gas E&P (Shallow & Deepwater) (EUAAAAAF), Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

Keywords

• Offshore oil production
• Natural gas exploration
• FPSO operations
• North Sea production
• Hydrocarbon exploration

Headquarters

HQ city

Aberdeen

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Oil and Gas Production: Dana Petroleum generates revenue through the exploration, development, and production of oil and gas reserves in the UK North Sea, Netherlands, and Egypt. Revenue is derived from the sale of produced hydrocarbons (oil and gas) with operations including both operated and non-operated joint venture interests.
2. Joint Venture Operations: Dana participates as both operator and non-operator in various joint venture arrangements, earning revenue through production entitlements and carried interests in producing fields and development projects.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Dana Petroleum plc explores, develops, and produces offshore oil and gas reserves across the UK North Sea, the Netherlands, and Egypt, operating a portfolio of FPSO vessels, Gravity Base Structure platforms, and subsea developments both as operator and as a joint venture partner. The company holds 50 production licences with average daily production of 35,500 boepd in 2024 and generates revenue primarily from the sale of produced hydrocarbons (oil and gas) and production entitlements across operated and non-operated interests.

Product overview

Dana Petroleum plc is an oil and gas exploration and production company operating a portfolio of offshore assets across three countries. The company operates as a wholly owned subsidiary of Korea National Oil Corporation (KNOC). Dana's core products consist of offshore production platforms and FPSO (Floating Production, Storage and Offloading) vessels. In the UK North Sea, Dana operates the Western Isles FPSO (now in wet storage after cessation of production in May 2024), the Triton FPSO, and holds a 50% interest in the Tolmount gas field with operator Harbour Energy. In the Netherlands, Dana operates the Hanze platform, De Ruyter platform (including Medway subsea development), and Unity monopile platform. In Egypt, Dana operates three concessions (South October, North Zeit Bay, South Wadi Dara) through the PetroNefertiti joint venture with EGPC. The company also holds interests in 12 non-operated licences and 8 exploration licences, with 9 decommissioning fields in the UK.

Differentiator

Problem solved

Functional benefit

Products and services

• Triton FPSO Dana-operated Floating Production, Storage and Offloading (FPSO) vessel located in block 21/30 approximately 120 miles east of Aberdeen, producing oil and gas from the Bittern, Clapham, Pict, Saxon, and Guillemot Area subsea facilities, including Guillemot West and North West fields, Gannet E, and Evelyn fields via subsea pipelines and manifolds.
• Western Isles FPSO Dana-operated Floating Production, Storage and Offloading (FPSO) vessel for the Harris and Barra oil fields located 160 km east of Shetland in the Northern North Sea. The project comprised subsea development of production and water injection wells tied back to the FPSO with shuttle tanker oil export; production ceased on 6 May 2024 and the asset is now in decommissioning under approved programmes.
• Tolmount Gas Field Gas field in the Southern North Sea in which Dana holds a 50% partnership interest alongside operator Harbour Energy, with a net share of approximately 15,000 boepd. Gas is exported via the Humber Gathering System and modifications to Centrica's Easington terminal under a 50:50 infrastructure joint venture with Kellas Midstream Limited.
• F2-A-Hanze Platform Oil and gas production platform in the Dutch sector of the North Sea, approximately 200 km north of Den Helder. The field has been developed with a steel Gravity Base Structure with integrated production deck producing from five wells and one water injection well, with oil exported via a direct offloading system and gas exported via the NOGAT pipeline from F3-FB.
• P11-B-De Ruyter Platform Oil and gas production facility located in blocks P10 and P11b approximately 60 km northwest of The Hague, featuring a steel Gravity Base Structure producing from three oil wells and one gas well. The subsea fields Van Nes and Van Ghent form the Medway subsea development, with Tanker Mooring and Loading System (TMLS) shuttle tanker oil export and gas export via the Taqa P15-D platform to Maasvlakte.
• Medway Subsea Facilities Subsea development facilities operated by Dana NL in the Dutch sector of the North Sea, part of the De Ruyter development area. Includes the Unity monopile platform installed in 2020 and subsea tie-back infrastructure connecting the Van Nes and Van Ghent fields to the De Ruyter hub.
• Egypt Concessions (South October, North Zeit Bay, South Wadi Dara) Onshore and offshore oil concessions in Egypt operated by Dana through the PetroNefertiti joint venture with the Egyptian General Petroleum Corporation (EGPC). Three concessions — South October, North Zeit Bay, and South Wadi Dara — are located in the Gulf of Suez and Western Desert.

Quantifiable outcome

• 35,500 boepd average daily production (2024)
• +2 more outcomes

Named customers7 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Serica Energy Mistral LimitedcoreStrategic or Co-development PartnerJoint venture partner in Triton FPSO with 46% interest. Serica acquired assets in the UK North Sea and participates in producing fields including Bittern, Clapham, Pict, Saxon, and Guillemot Area subsea facilities tied back to the Triton FPSO.
• Waldorf Production UK plc / Waldorf Petroleum Resources LimitedminorStrategic or Co-development PartnerJoint venture partner in Triton FPSO with 2% interest in the asset.
• Neo EnergycoreStrategic or Co-development PartnerJoint venture partner in Western Isles FPSO with 23% interest. Neo Energy (ZEX) Limited has been confirmed by OPRED as having statutory responsibility for Western Isles decommissioning programmes.
• Harbour EnergycoreStrategic or Co-development PartnerJoint venture partner and operator of Tolmount gas field located in Southern North Sea. Dana holds 50% partnership interest with net share of approximately 15,000 boepd.
• Kellas Midstream LimitedcoreStrategic or Co-development Partner50:50 infrastructure joint venture partner with Dana to finance the platform and pipeline (Humber Gathering System) and modifications to Centrica's Easington terminal for Tolmount gas export.
• Energie Beheer Nederland (EBN)coreStrategic or Co-development PartnerDutch state energy company and joint venture partner in De Ruyter field development. EBN participates in Dutch oil and gas projects on behalf of the Dutch government.
• Egyptian General Petroleum Corporation (EGPC)coreStrategic or Co-development PartnerEgyptian state petroleum corporation and joint venture partner in PetroNefertiti, operating South October, North Zeit Bay and South Wadi Dara concessions.
• Offshore Energies UK (OEUK)coreOthersIndustry association membership. Dana actively participates in senior and working-level committees, responds to industry consultations, and was awarded Gold Supply Chain Principles Award in 2023 and 2024.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Spirit Energy: North Sea-focused E&P operator with UK and Norwegian/Dutch assets. Comparable mid-sized operator with North Sea production, decommissioning obligations, and similar infrastructure-heavy asset base.
• EnQuest plc: UK North Sea-focused E&P operator with similar offshore production scale, North Sea basin exposure, and active decommissioning portfolio. Comparable size and asset class to Dana, with overlapping customer/supply chain relationships.
• Serica Energy plc: UK North Sea operator and Dana's JV partner in Triton FPSO (46% interest). Comparable mid-cap North Sea producer with similar offshore FPSO-tied-back operating model.
• Neptune Energy Group: European-focused E&P operator with North Sea (UK and Dutch sector) and North African exposure. Comparable diversified European/North Africa portfolio, gas-weighted mix, and similar asset maturity profile.
• Harbour Energy plc: UK-listed North Sea operator and Dana's JV partner at Tolmount. Direct comparator on UK production scale, North Sea asset mix, and operational footprint in Southern/Central North Sea gas.

Broad incumbents

• Eni S.p.A. Global integrated oil major with significant North Sea (UK and Italian) and North African (Egypt, Libya) operations. Overlaps with Dana on Egyptian concessions and broader European/North Africa upstream, but at a much larger, integrated scale.
• Equinor ASA: Norwegian state-backed international oil major with major North Sea operations. Comparable to Dana's KNOC ownership structure (state-backed), European North Sea exposure, and offshore FPSO/subsea infrastructure expertise, though at substantially larger scale.

Emerging players

• Neo Energy (ZEX) Limited: UK North Sea operator that took over Western Isles decommissioning responsibility from Dana. Overlaps on UK offshore asset management, decommissioning expertise, and JV participation in Dana's former Western Isles asset.
• IOG plc: UK Southern North Sea-focused gas producer with smaller scale than Dana. Overlaps with Dana on Tolmount-area gas operations and UK offshore infrastructure, but at a different scale and growth stage.
• Tullow Oil plc: International E&P operator with European (UK North Sea) and African (Ghana, West Africa) exposure. Comparable in terms of multi-region upstream portfolio and exposure to emerging-market fiscal regimes like Dana's Egypt operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInse.linkedin.com/company/dana-petroleum-limited
• Xx.com/dana_petroleum

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dana Petroleum plc