DNO Reports Increased Oil Production in Kurdistan

DNO, the Norwegian oil and gas operator, has reported a 24-percent increase in revenue to US$170 million in the third quarter of 2024, with operating profit also higher at US$31 million, up from an operating loss of US$3 million in the previous quarter.

Regarding operations in the Kurdistan region of Iraq:

Tawke License

Gross production from the DNO-operated Tawke license, containing the Tawke and Peshkabir fields, averaged 84,212 bopd during the third quarter (79,783 bopd in Q2 2024). The Tawke field contributed 29,693 bopd (30,684 bopd in Q2 2024), and the Peshkabir field contributed 54,520 bopd (49,099 bopd in Q2 2024) during this period.

At the Tawke license, three wells that were drilled but not completed due to the closure of the Iraq-Türkiye Pipeline last year were brought onstream midyear 2024 to meet demand from local traders. The three new wells contributed 7,800 bopd to gross production in the quarter. Further spending on well interventions, such as workovers, helped add an estimated 3,400 bopd.


Payments continue to be made by local traders in advance to our international bank accounts. DNO holds a 75 percent operated interest in the Tawke and Peshkabir fields, with partner Genel Energy International Limited holding the remaining 25 percent.

Baeshiqa License

Due to the closure of the export pipeline, the DNO-operated Baeshiqa license has not been in production since mid-2023. The Company is reviewing results of well-testing programs and considering next steps.

DNO holds a 64 percent operated interest in the license (80 percent paying interest), with partners being Turkish Energy Company (TEC) with a 16 percent interest (20 percent paying interest) and the KRG with a 20 percent carried interest.