Future Opportunities with...

Dana Petroleum LimitedPilot Share Fair

Debbie McCrory/Graeme Urquhart – Aberdeen – 5th Nov

2014

In case of Emergency

Disclosure Statement

This presentation material belongs to Dana Petroleum limited

(the “Company”) and should not be reproduced without the

express permission of the Company. The Company nor

its subsidiaries accept any liability for the content of this

presentation, or for the consequences of any actions taken by

the audience on the basis of the information provided, unless

that information is subsequently confirmed in writing by the

Company. Whilst the factual information contained in this

presentation is believed to be accurate no warranty is given

as to its accuracy.

Dana at a glance

In business since More than

employees

Average daily

production of 50,000

barrels of oil and gasOperated licenses

Non -

operated

fields/

discoveries

Interests in

producing fields

Dana at a glance

We’re a $3bn oil and gas company.

Formed in 1994, Dana is now part of the

Korea National Oil Corporation (KNOC).

Our ambition is to become a leading international

oil and gas company operating in Europe, Africa

and the Middle East.

We aim to grow production significantly by investing

up to $5 billion over five years to increase the size of

the company and create value for our shareholder.

About KNOC

• Korea is the eighth largest global economy, the fifth largest

importer of oil and second largest importer of liquefied natural

gas – national energy security is a key priority

• KNOC’s vision is to increase production and reserves to meet

Korea’s energy needs for the future

• KNOC has 215 projects in 25 countries and has its HQ in Seoul

where it employs around 1,400 people

• Current production is around 220,000 boepd

What we do

It’s all about oil and gas. We use our technical

expertise to explore for it, develop it and produce

it in Europe, Africa and the Middle East. We’re

building a company that operates at every stage of

the oil and gas lifecycle, both offshore and onshore.

The De Ruyter platform

Where we workNorway 1,500 barrelsWe have interests in 13 exploration

licences and are operator of three

UK 33,000 barrelsOur UK portfolio consists of 28

operated and 47 non-operated licences

Netherlands 10,700 barrelsWe operate nine licenses including the De Ruyter,

Hanze, Van Ghent and Van Nes fields, and have

interests in 24 non-operated licences.

Egypt 10,000 barrelsWe have a balanced portfolio of operated and

non-operated developments in the Gulf of

Suez, the Nile Delta and the Western Desert.

MauritaniaWe operate blocks 1 and 7, and have

a non-operated interest in block 2

CameroonWe operate a Production Sharing Contract

(PSC) in the Bakassi West block

GuineaWe have a 23% stake in a very large PSC

located offshore Guinea.

Our ambition and strategy

Grow to become a leading international oil and gas company

operating in Europe, Africa and the Middle East

Grow the business by significantly increasing production and

reserves

Up to $1 billion each year

Ambition

Goal

Strategy

Investment

Drive

performance

in existing

locations

Secure

access to

new

provinces

Become a

partner of

choice

Increase

value and

efficiency

Develop the

best people,

processes &

technology

What are we up to?

The next set of slides will outline our plans for the

next 12-18 months, which will hopefully be

opportunities for some people in the room

That said our plans are subject to change as such

there is no guarantee that these opportunities will

develop, but at this point in time we hope they

will!

Western Isles Development

Work is well underway on $1.8 billion Western

Isles Development Project in UK Northern

North Sea which will produce 40,000 barrels of

oil per day when it comes onstream.

Western Isles DevelopmentOngoing Project Requirements• Engineering/Integration/Commissioning Resources (People), Temporary Port

Facility, Float Out (Marine) and Offshore Hook Up

Operational Contracts• All operational support contracts, Logistics, Engineering, Maintenance, Domestics,

etc. etc.

Spares Procurement• All insurance and operating spares for the FPSO.

UK/Triton FPSO

In 2013 Dana’s Triton FPSO successfully extracts 200 millionth barrel, and our work continues to maximise asset performance and extend field life

UK/Triton FPSODrilling• Pict and Saxon infill drilling, using Ocean Nomad.

• Liberator Well now 2016

Triton• Subsea – 2,3 or 5 risers, 2 x Flexible Install, Trenching and Lay, IRM Work

• Topsides – Inlet Heater Replacement, 47 – 60 day shutdown

Facilities• Security/Office Cleaning/Catering/Waste Management/Document Storage – 2015

• Corporate travel/Stationery - 2016

Africa

We are at early stages of work

across Africa, in Mauritania,

Cameroon and Guinea

AfricaCameroon• Completed Seismic Acquisition

• Preparing to drill 1 or 2 wells in 2Q16, have kicked off the planning/EISA process

• Engaged with Zenith to provide logistics assessment

• Probably use a swamp barge for drilling

• Hope to utilise existing Dana frame agreements where possible

Guinea• Drilling programme still to be agreed, led by Tullow (operator)

Mauritania• Future drilling programme to be agreed

Possible Future Projects

Having new development projects in

the pipeline is key to Dana’s long term

success

Possible Future ProjectsTolmont• Moving towards project sanction, Eon operator, Dana 50%

Arran• Subsea development, 2 drill centres, 3/4 wells with a Pipe in Pipe tie back. Offtake

options being evaluated.

Platypus• Minimum Facilities Platform, 4 wells. Offtake options being evaluated.

Becoming a supply partner• UK and Netherlands both use FPAL as the

primary source of supplier data

• UK signed up to SCCoP in May 2012 (now

silver award winners!), and Verify.

• We will use FPAL where ever possible to

eliminate costly and time consuming pre-

qualification activity

• However, where this is necessary to do so

we will use non-FPAL suppliers

• We do not have a stand alone supplier

registration system

Performance-driven, values-led

People

We trust and respect

each other, take

accountability for our

actions and work as a

team to deliver great

results

Environment

We respect the

environment and work to

minimise the impact of

our operations

Safety

Our values are

equally important

but safety is

always our first

consideration

Mutual advantage

We aim to support the

needs of society through

education, employment

and enterprise

Integrity

We are always

professional, fair

and honest, acting

responsibly in

everything we do

Performance

We expect high levels

of performance from the

business, each other

and ourselves

http://www.dana-petroleum.com/How-we-work/What-we-believe/Our-business-principles/

Contacts

General Supply Enquiries – supply.chain@dana-petroleum.com

See our Forward Plans at:

http://www.achilles.com/en/find-your-achilles-community?id=409

General Information about FPAL at:

http://www.achilles.com/en/find-your-achilles-community?id=409

Supply Chain Code of Practice at:

http://www.oilandgasuk.co.uk/knowledgecentre/SupplyChainCodeofPra

ctice.cfm

Any Questions?

Thanks for Listening