LONDON, Feb 24 - British oil and gas producer Dana Petroleum Plc announced on Tuesday the discovery of a new oil field in the Rinnes area of the UK Northern North Sea.
"This is an excellent discovery which has exceeded our expectations," said chief executive Tom Cross. "The three Rinnes oil fields, together with the Melville oil field, should now lead to a substantial new oil development in this part of the North Sea."
The company said initial analysis indicated that the South East Rinnes oil is of high quality and similar to the high quality crude at Dana's nearby West Rinnes, East Rinnes and Melville oil fields.
Dana is the operator of the South East Rinnes well, 210/24a-12, and has a 64.8 percent interest.
"This is an excellent discovery which has exceeded our expectations," said chief executive Tom Cross. "The three Rinnes oil fields, together with the Melville oil field, should now lead to a substantial new oil development in this part of the North Sea."
The company said initial analysis indicated that the South East Rinnes oil is of high quality and similar to the high quality crude at Dana's nearby West Rinnes, East Rinnes and Melville oil fields.
Dana is the operator of the South East Rinnes well, 210/24a-12, and has a 64.8 percent interest.
