The subsidiary of South Korean oil giant KNOC expects to begin drilling at the development - which encompasses two oilfields - next year.
First oil is expected from Western Isles in 2015, the same year as the new proposed FPSO will be in place, Dana said on Thursday.
The company has now entered the detailed engineering design phase at the project which aims to develop the two discovered oilfields in the northern part of the North Sea east of the Shetland Islands.
"It
