DNO International
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| Type | Allmennaksjeselskap |
|---|---|
| Traded as | OSE: DNO |
| Industry | Petroleum |
| Founded | 1971 |
| Headquarters | Oslo, Norway |
| Key people | Helge Eide (President and managing director), Bijan Mossavar-Rahmani (Executive Chairman) |
| Products | Oil and gas exploration and production |
| Revenue | NOK 1.252 billion (2010)[1] |
| Operating income | NOK 156.8 million (2010)[1] |
| Profit |  (NOK 282.9 million) (2010)[1] |
| Total assets | NOK 5.393 billion (end 2010)[1] |
| Total equity | NOK 2.109 billion (end 2010)[1] |
| Employees | 565 (end 2010)[1] |
| Website | www.dno.no |
DNO International ASA ‘DNO’ is a Norwegian publicly listed company whose primary business is oil and gas exploration and production (E&P) in the Middle East and North Africa (MENA) region. The company holds licenses in the Kurdistan region of Iraq, Yemen, Oman, Ras Al Khaimah (UAE) and Tunisia. Starting with North Sea operations in 1971, DNO today has the strength of 40 years experience of petroleum operations. DNO gained access to two new countries and substantially enlarged its MENA portfolio through merging with RAK Petroleum’s MENA operating subsidiaries in January 2012.
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Operations [edit]
Norway [edit]
In the headquarters in Oslo you find the corporate functions, the subsurface teams and the administration. DNO has no operations in Norway, but the company is listed on the Oslo Stock Exchange.
Kurdistan region of Iraq [edit]
In June 2004, DNO entered into production sharing contracts (PSCs) with the Kurdistan Regional Government (KRG) of Iraq. As one of the first international oil companies to enter this highly prospective region, DNO holds a pioneering position in developing the local oil industry.
DNO is operator of three PSCs: Tawke, Dohuk and Erbil. DNO has completed a fast-track field development of the Tawke field. The capacity at Tawke is 70,000 bopd and the company is working to increase capacity to 100 000 bopd in 2012. DNO’s operations in Kurdistan are managed from its office in Erbil.
Yemen [edit]
DNO entered Yemen in 1998 and was approved as operator later that year. The company quickly expanded activities through successful exploration and fast-track developments. DNO has further expanded its operations in Yemen and is currently holding interests in five assets, all located in the prolific Sayun-Masila Basin. DNO has an office in Sana’a to run operations.
Oman [edit]
DNO holds licenses and is the operator of the offshore Block 8 and the onshore blocks 30, 31 and 47. On Block 8 DNO is producing oil and gas from two platforms. The other three blocks are onshore Oman with exploration and field development plans under evaluation. DNO staffs an office in the capital, Muscat.
Ras Al Khaimah [edit]
DNO holds the offshore RAK B and RAK Saleh licenses and one onshore license. The offshore licenses are being prepared for redevelopment and after encouraging results from seismic acquisition in 2011, the company is now setting the stage for further exploration onshore Ras Al Khaimah. An office is maintained in the Emirate.
Tunisia [edit]
DNO at present holds a 30 percent share of the Hammamet offshore license and has also signed a prospecting permit for the Fkirine license, covering an onshore area of more than 2,000 square kilometres. The Tunis office is responsible for operations in Tunisia.
Dubai [edit]
The office in Dubai is DNO’s hub in the Middle East, hosting corporate technical functions and the COO’s administrative team.
United Kingdom [edit]
DNO is present in the UK with its London office located at St James Square. The company is aiming at listing at the London Stock Exchange in 2012 and will consequently increase its presence in London with additional staff.
References [edit]
External links [edit]
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