By John Lee.
DNO has announced that it has increased spending in Iraqi Kurdistan during the second quarter of 2024, to optimize production from existing wells at the flagship Tawke license (DNO 75 percent and operator), "raising gross output from the Tawke and Peshkabir fields to an average of 83,500 boepd in the first half of the third quarter, up five percent from the second quarter and nine percent from the first quarter of 2024."
In its Q2 results announcement, the Norwegian company added:
"To help address natural field decline, in addition to placing previously drilled wells into production, DNO prepares to mobilize a rig to drill the first new well on the license since early 2023.
"On its other operated license in Kurdistan, Baeshiqa (DNO 64 percent), a 72-day testing program has commenced on the newly drilled B-3 well."
DNO's Executive Chairman Bijan Mossavar-Rahmani, said:
"We are not realizing full value for our Kurdistan barrels with the shutdown of the Iraq-Türkiye export pipeline, now twisted into a Gordian knot. Until the knot is cut, we will compensate by spending more to produce more and by requiring payments in advance to our international bank accounts."
(Source: DNO)
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