Holt Energy Advisors (“HEA”) are pleased to announce the successful conclusion of its gas sales marketing tender for Dana Petroleum (‘Dana’).
The process involved HEA marketing Dana’s equity gas in the Tolmount development and Babbage gas field in the Southern North Sea area of the UKCS. HEA provided a full tender process through to the full execution of the Gas Sales Agreements.
The Babbage field sales under the new contract commenced in April 2021 and the Tolmount sales will commence at first gas. The gas from both fields contracted to a single counterparty through to the end of Q1 2024.
Dana has a 40% working interest in the Babbage field, located in block 48/2a of the Southern Area of the North Sea with gas exported via the Dimlington Terminal. The Tolmount field is located in block 42/28d and Dana has a 50% working interest in the Harbour Energy operated development. Tolmount gas will be exported via the Centrica Storage operated terminal at Easington.
Eric Bell, Developments Manager and Mike Almeida, Joint Venture Manager and Tolmount Commercial Lead said “Holt Energy Advisors have provided Dana with a professional service both leading up to and through to completion of award of the Dana Babbage and Tolmount Gas Sales contracts. We are pleased to continue to work with HEA and have retained their services providing Dana with ongoing gas marketing and consultancy support for the Southern North Sea Babbage and Tolmount fields and also the broader Dana UK asset portfolio.”
Andy Giles, HEA said “We are very pleased that Dana has been able to secure a long-term value adding solution for its gas sales from the Tolmount and Babbage assets and particularly so as this process coincided with the introduction of the new gas transmission charging regime in the UK. We look forward to the continuing opportunity to assist and support Dana”.
Holt Energy Advisors is a boutique energy advisory company delivering expert commercial consulting and transaction advisory solutions to the energy sector.