Oil firm wins drilling licences
Published: 29th Jan 2010 21:40:56
An Aberdeen-based oil exploration and production company has won a share of nine new licences for drilling zones in Norwegian waters.
Dana Petroleum has issued an operational update to the stock market, showing strong growth in its reserves.
Production is already established across 36 fields in British, Egyptian, Norwegian and Dutch waters.
Dana said its drilling in the southern North Sea has been stepped up due to the reduced cost of leasing rigs.
The company also announced a share in drilling rights off the coast of Guinea, with testing already under way.
In Egypt, it has three exploration wells, with a further 14 planned for 2010, including "significant prospects" in the Nile Delta, off the Faroe Islands and Mauritania.
Capital investment for this year is expected to reach £235m.
Chief executive, Tom Cross, said: "Despite tough macro-economic conditions during 2009, Dana has achieved substantial progress across its portfolio.
"The company made five significant new oil and gas discoveries, driving its reserves to a new record high."
On the new Norwegian licences, he said: "This provides a significant portfolio of new opportunities, building upon Dana's existing business in Norway".
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Harvard CitationBBC News, 2010. Oil firm wins drilling licences [Online] (Updated 29th Jan 2010)
Available at: http://www.ukwirednews.com/news/15293/Oil-firm-wins-drilling-licences [Accessed 2nd Sep 2014]
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With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com