Monday 28 September 2020

DNO posts increased production at KRI facility

OSLO, Norway, July 29, 2020

DNO ASA, a Norwegian oil and gas operator, said that production at the company’s flagship Tawke license in the Kurdistan region of Iraq went up by 15,000 barrels of oil per day (bopd) month-on-month to 115,000 bopd during July.

The result follows a well intervention campaign fast tracked in June with the stabilization of oil prices and improved export payment terms, DNO said in a statement.

In the North Sea segment, DNO projects receipt of $215 million in tax refunds in the second half of the year, including $70 million from the recently announced temporary changes to petroleum taxation in Norway.

“The worst of the coronavirus pandemic hit to our business is behind us and DNO is back identifying and capturing opportunities,” said Bijan Mossavar-Rahmani, DNO’s Executive Chairman. “Still, we are prepared to act quickly, as we did in March, if a strong second wave comes.” – TradeArabia News Service


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