Assets for nothing

VENTURE AND Dana have reached an agreement that will give them joint ownership of the central North Sea's Greater Kittiwake Area, in exchange for taking over some decommissioning liabilities from Shell and ExxonMobil. As well as taking control of the Kittiwake and Mallard producing fields, together with neighbouring development acreage, Venture and Dana - small Aberdeen-based production firms - will receive cash payments of £2.7m ($4.3m) and £2.4m respectively, as negative consideration. The agreement gives the two firms about 5,300 barrels a day of production from the Kittiwake and Mallard fields, together with development acreage in blocks 21/12, 21/13a, 21/17a, 21/18a and 21/19 - holding