Tag Archives | DNO

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DNO Unaffected by Pipeline Disruption

DNO ASA, the Norwegian oil and gas operator, announced that production from its flagship Tawke field in the Kurdistan region of Iraq continued uninterrupted during this week’s shut down of the Kirkuk-Ceyhan pipeline in Turkey, given the flexibility to redirect volumes from exports to local sales. Prior to the pipeline disruption, Tawke production in the […]

DNO Completes $400m Bond Placement

DNO ASA, the Norwegian oil and gas operator, has completed the placement of USD 400 million of new, five-year senior unsecured bonds with a coupon rate of 8.75 percent and an issue price of 87.5 percent of par value. The bond placement received strong investor demand across international markets and its combination of a fixed […]

Tawke Oilfield hits new Record Output

DNO ASA, the Norwegian oil and gas operator, today announced a new daily record of 170,000 barrels of oil produced from the Tawke field in the Kurdistan region of Iraq, of which 30,000 barrels were sold into the local market and the balance allocated for export. Tawke production in the first quarter of 2015 was […]

Frontier Markets Fund hit by Iraq Oil Stocks

By John Lee. BlackRock Frontiers Investment Trust has said that the fund’s most significant detractors from performance were its Iraqi oil stocks. In its Half-yearly Report, the fund commented: “Although Kurdistan has started exporting oil through it’s pipeline to Turkey, the International Oil Companies (“IOCs”) are still not receiving payment for these exports which is […]

DNO Doubles Capacity at Tawke

Norwegian oil and gas operator DNO today announced the doubling of capacity at its flagship Tawke field in the Kurdistan region of Iraq to 200,000 barrels of oil per day (bopd). The 200,000 bopd wellhead, processing and pipeline capacity milestone was reached in less than two years with 10 new horizontal wells and the construction […]

DNO Hits 100m Barrels from Tawke

By John Lee. DNO, the Norwegian oil and gas operator, produced its first 100 million barrels of oil at its flagship Tawke field in February. Executive Chairman Bijan Mossavar-Rahmani told a conference in Oslo: “Output will pick up at Tawke this spring with the expansion of the field’s capacity to 200,000 barrels per day.” A […]

Tawke Oil Field Drives DNO Growth

By John Lee. Norwegian oil and gas operator DNO reported record oil and gas output in 2014, but the results were impacted by one-off impairment charges in the fourth quarter driven in part by the drop in global oil prices. Gross output was up 66 percent last year to 117,482 barrels of oil equivalent per […]

DNO in Kurdistan: “We’ve Only Just Begun”

By Padraig O’Hannelly. DNO Chairman Bijan Mossavar-Rahmani (pictured) has given an upbeat assessment of the company’s operations in Iraqi Kurdistan. Addressing CWC’s Kurdistan-Iraq Oil & Gas Conference in London last week, he said that the Tawke well was on target to hit a cumulative output of 100-million barrels of oil at some point in the […]