Tag Archives | Norway

DNO to spend $250m in Kurdistan this year

DNO ASA, the Norwegian oil and gas operator, today reported USD 35 million in first quarter 2019 operating revenues from its newly acquired North Sea assets, bringing the total quarterly figure across the portfolio to USD 204 million. The Company generated a net profit of USD 51 million and exited the quarter with a cash […]

DNO Increases Oil Reserves, Shares Rise

Shares in DNO ASA, the Norwegian oil and gas operator, were trading up five percent on Monday afternoon following the company’s announcemnt that it has replaced 2018 production through additions to reserves, marking the second consecutive year in which the Company’s replacement of proven reserves reached or exceeded 100 percent of production. “DNO’s stellar record […]

DNO Reports Record Revenues

DNO ASA, the Norwegian oil and gas operator, today announced 2018 net profit of USD 354 million on revenues of USD 829 million, the highest annual revenues in the Company’s 47-year history. Cash flow from operations increased 40 percent to USD 472 million in 2018, of which USD 334 million represented free cash flow. Operated […]

Norway Renews Commitment to Stabilization in Iraq

The Government of Norway is supporting the United Nations Development Programme (UNDP) with an additional NOK 25 million (approximately USD 3 million) for stabilization in Iraq, bringing Norway’s total contribution since 2015 to USD 36 million, the seventh largest donor to FFS. The fund will be directed towards UNDP’s Funding Facility for Stabilization (FFS) which […]

New Strategy to Combat Violence Against Women in Iraq

Government of Iraq and United Nations Launch National Strategy to Combat Violence Against Women in Iraq The Government of Iraq and the United Nations in Iraq launched today a national strategy to combat violence against women, a significant step towards achieving women’s rights. This strategy provides an overall framework on which policy and decision makers […]

Iraq Falls Again in Prosperity Index

By John Lee. Iraq has fallen one place in this year’s Legatum Institute Prosperity Index, ranking in 143rd place out of the 149 countries measured. The index ranks countries according to its nine pillars of prosperity: Economic Quality, Business Environment, Governance, Personal Freedom, Social Capital, Safety and Security, Education, Health and Natural Environment. Despite Iraq’s […]

“Peshkabir is on Steroids” – DNO Boss

DNO ASA, the Norwegian oil and gas operator, today announced a rise in third quarter 2018 net profit to USD 63 million from operating revenue of USD 171 million on the back of solid production, regular export payments and higher oil prices. Operated production averaged 117,600 barrels of oil equivalent per day (boepd) during the […]

Peshkabir Production Pushes 50,000 bpd

DNO ASA, the Norwegian oil and gas operator, today announced production at the Peshkabir field in the Kurdistan region of Iraq has ramped up to 50,000 barrels of oil per day (bopd), meeting the end-2018 target ahead of schedule and below budget. One of two recently completed wells, Peshkabir-7, is producing over 10,000 bopd from […]

DNO Reports Payment for Tawke Deliveries

By John Lee. DNO ASA, the Norwegian oil and gas operator, has reported receipt of USD 69.03 million as payment for May 2018 crude oil deliveries to the export market from the Tawke license in the Kurdistan region of Iraq. The funds will be shared by DNO and partner Genel Energy plc pro-rata to the companies’ […]

DNO Presses Foot on Accelerator in Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced plans for its first dividend distribution to shareholders in 13 years following release of strong half-year 2018 results, including revenues of USD 289 million which were up 83 percent from the same period last year. The Company also reported a net profit of USD 61 […]

DNO Passes Peshkabir Production Target

DNO ASA, the Norwegian oil and gas operator, today announced that a fourth well has been put on production at the Peshkabir field in the Kurdistan region of Iraq pushing total output past the previously published target of 30,000 barrels of oil per day (bopd). The Peshkabir-5 well is currently producing around 8,000 bopd from […]