DNO Updates on Production in Iraqi Kurdistan

DNO ASA has reported record revenue of US$547 million and an operating profit of US$222 million for the third quarter of 2025, both more than double the figures from the previous quarter.

Regarding its operations in Iraqi Kurdistan, it reported that gross production at the Tawke licence, where it holds a 75-percent operated interest, averaged 46,600 barrels of oil equivalent per day (boepd) during the quarter, a 38-percent decline from the previous period due to drone strike damage in mid-July. Production has since been restored to around 75,000 boepd following rapid repairs.

Oil from Kurdistan is again flowing to international markets via the Iraq-Turkiye Pipeline (ITP), with exports resuming in late September after a two-and-a-half-year suspension. DNO continues to sell its entitlement oil to local buyers under existing cash-and-carry contracts at prices in the low US$30s per barrel, ensuring steady cash flow to support new investments.

Drilling at the Tawke and Peshkabir fields is expected to restart by the end of the year. The DQE-51 and Sindy rigs will be mobilised to drill eight wells in 2026, with the company targeting an increase in combined gross operated production to 100,000 boepd.