By John Lee. Iraq signed an agreement to build a 525-MW solar power plant in Karbala. The project will be built by a consortium of companies led by the Norwegian Scatec, whose main shareholder is Equinor (formerly Statoil). Also involved are Egypt's Orascom and Iraq's Al-Bilal. The signing comes after recent announcements of renewable energy […]
Tag Archives | Norway
Tags: Albilal Group, Egypt, Equinor, featured, Karbala, Kerbala, mn, Norway, Orascom, renewable energy, Scatec, solar power, Statoil
DNO Completes $400m Bond Placement
DNO ASA, the Norwegian oil and gas operator, has completed the private placement of USD 400 million of new five-year senior unsecured bonds with a coupon rate of 7.875 percent. The placement met strong investor demand across international markets and was significantly oversubscribed, leading the Company to upsize the new bond issue from USD 300 […]
KRG Approves DNO Purchase of Exxon Stake in Baeshiqa
By John Lee. DNO ASA, the Norwegian oil and gas operator, today announced that the Kurdistan Regional Government has approved the Company's acquisition of ExxonMobil's remaining 32 percent interest in the Baeshiqa license, doubling DNO's stake. In parallel, commerciality has been declared on the license with plans submitted for fast-track development including early production from previously […]
Tags: Baeshiqa, DNO, Exxon, Exxon Mobil, ExxonMobil, featured, KRG, Kurdistan News, mn, Norway, Peshkabir, Tawke, Zartik
KRG Bureaucracy Delays DNO Investment
DNO ASA, the Norwegian oil and gas operator, has reported operating profit of USD 61 million in the quarter ending 30 June 2021, its second consecutive profitable quarter since the onset of the COVID pandemic. Revenues totaled USD 184 million, up USD 14 million from the previous quarter, as higher oil and gas prices more […]
DNO appoints Spencer as New COO
By John Lee. DNO ASA, the Norwegian oil and gas operator, has announced the appointment of Chris Spencer (pictured) as its Chief Operating Officer, effective immediately. Spencer joined the Company in 2017 and his most recent position was Deputy Managing Director. (Source: DNO)
Norway Increases Iraq Funding by $8.3m
Norway reaffirms its partnership with US$8.3 million contribution for stabilization in Iraq The United Nations Development Programme (UNDP) in Iraq welcomes a NOK 70 million (US$8.3 million) contribution from the Government of Norway to its flagship Funding Facility for Stabilization (FFS). This critical support will focus on stabilizing the five governorates liberated from the Islamic […]
Tags: featured, Funding Facility for Stabilization (FFS), mn, Norway, UN Development Programme (UNDP), United Nations (UN)
DNO announces Ramp-Up of Oil Production in Iraq
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 54.0 million net to the Company from the Kurdistan Regional Government (KRG), of which USD 35.2 million represents DNO's entitlement share of February 2021 crude oil deliveries to the export market from the Tawke license in Kurdistan. Of the balance, USD 4.6 million is […]
More Details on Iraqi Solar Projects
By Editor on 22nd February 2021 in Construction & Engineering In Iraq, Investment, Iraq Industry & Trade News
By John Lee. Oil Minister Ihssan Abdul-Jabbar Ismail has given further details of the seven "alternative energy" plants that will be built, clarifying that they will all be solar power plants. The projects will have a combined capacity of 750MW, with the largest being a 300-MW facility in Karbala. There will also be plants in […]
Tags: Babil, featured, France, mn, Muthanna, Norway, renewable energy, Sawa-1 Solar, Sawa-2 Solar, Total, Wasit
DNO Adds New Oil Reserves
DNO ASA, the Norwegian oil and gas operator, has announced it replaced 87 percent of 2020 production through additions to its proven (1P) reserves notwithstanding reduced activity in the wake of low oil prices. In the Kurdistan region of Iraq, the Company replaced 111 percent of last year's production through additions to 1P reserves. Yearend […]
Tags: Baeshiqa, DeGolyer & MacNaughton, DNO, featured, Gaffney Cline & Associates, Kurdistan News, mn, Norway, oil reserves, Tawke
DNO Buys Exxon's Stake in Iraqi Oilfield
DNO ASA, the Norwegian oil and gas operator, has announced the acquisition of ExxonMobil's 32 percent interest in the Baeshiqa license in the Kurdistan region of Iraq, doubling DNO's operated stake to 64 percent (80 percent paying interest), pending government approval. The Company plans to continue an exploration and appraisal program on the license while […]
Tags: Baeshiqa, DNO, Exxon, Exxon Mobil, ExxonMobil, featured, Kurdistan News, mn, Norway, Peshkabir, Tawke, TEC, Turkish Energy Company (TEC), Zartik
DNO announces 2020 Interim Results
DNO ASA, the Norwegian oil and gas operator, today reported interim 2020 revenues of USD 615 million, down a third from a year earlier in the wake of weak oil prices triggered by the pandemic and global economic contraction. Net production totaled 95,100 barrels of oil equivalent per day (boepd), down nine percent, as the […]
Norway Renews Commitment to Stabilization in Iraq
Norway renews commitment to stabilization with new $7.7m contribution The Government of Norway has contributed NOK 70,000,000 (US$7.7 million) to the United Nations Development Programme (UNDP) Iraq's Funding Facility for Stabilization (FFS), which supports stabilization and the return of internally displaced persons (IDPs) from the five governorates liberated from the Islamic State of Iraq and […]