Tuesday 4 October 2005

UKOOA ADDS STRING OF INDEPENDENTS TO MEMBERSHIP

Three of the North Sea's most innovative and ambitious independent oil and gas exploration and production companies have joined the UK Offshore Operators Association (UKOOA) as members.

Canadian subsidiary Oilexco North Sea Limited, Texas-headquartered Newfield Exploration Company and British-built Dana Petroleum plc have all taken up UKOOA membership within the last six months, bringing the total number of companies represented by the industry body to 34.

UKOOA Chief Executive Malcolm Webb said, "I am delighted to welcome these companies on board.  All three represent the fresh blood arriving in the North Sea today; businesses which are taking advantage of the improved access to UK acreage to bring state-of-the art exploration and development techniques to the chase for new oil and gas discoveries.

"It is particularly important that as a representative body, UKOOA's membership reflects the diverse range of companies currently active in UK oil and gas exploration and production.  There is still huge potential for business growth in the North Sea, but the risks associated with fiscal instability, inapt regulation and escalating costs remain.  Industry debate on such issues is strengthened by our members' input and support, and ensures UKOOA's voice continues to represent the industrys interests."

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NOTE TO EDITORS

The UK Offshore Operators Association (UKOOA) is the representative organisation for oil and gas companies licensed by the UK government to explore for and produce hydrocarbons offshore around the British Isles.  It has 34 members.