DNO ASA

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DNO ASA
Allmennaksjeselskap
Traded as OSE: DNO
Industry Petroleum
Founded 1971
Headquarters Oslo, Norway
Area served
Worldwide
Key people
Bjoern Dale (Managing Director)
Bijan Mossavar-Rahmani (Executive Chairman)
Products Oil and gas exploration and production
Revenue USD 347.4 million (2017)[1]
USD 521.1 million (2017)[1]
USD 495 million (2017)[1]
Total assets USD 1.415 million (end 2017)[1]
Total equity USD 875.9 million (end 2017)[1]
Number of employees
911 (end 2017)[1]
Website www.dno.no

DNO ASA ‘DNO’ is a Norwegian oil and gas operator focused on the Middle East and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, Oman, Somaliland, Tunisia, the United Kingdom and Yemen.

Criticism from the National Contact Point[edit]

The Norwegian National Contact Point concluded in 2018 that DNO had not met the expectations expressed in the OECD Guidelines on prior notice and consultation with the employees of DNO Yemen in connection with suspension of the company’s Yemeni operations in 2015[2].The key issue in the complaint concerned lack of prior notice and consultation between DNO and the employee representatives in Yemen in connection with collective dismissals and suspension of production in the war-like situation that prevailed in 2015. The complaint also concerned the question of whether DNO had obstructed the workers’ right to organise and collective bargaining in Yemen, and the validity of dismissals as part of the downsizing process.

Industri Energi had for some time tried to help the workers of DNO Yemen after having received desperate appeals from the workers who were sacked by text messages and e-mails when the company withdrew from the country, and not been given the wages and benefits they were enitled to[3]. Still the workers have not received the compensation they legally are entitled to according to court decisions in Yemen[4].

Assets[edit]

Kurdistan, Iraq[edit]

License Type Status Ownership Operator Partners
Tawke PSC Onshore Production/Development/Appraisal/Exploration 55% DNO Genel Energy International Ltd.
Erbil PSC Onshore Development 40% DNO Gas Plus Erbil Ltd., KRG
Baeshiqa PSC Onshore Exploration 32% DNO ExxonMobil, Turkish Energy Company, KRG

Norway[edit]

License Type Status Ownership Operator Partners
PL248 F Offshore Exploration 20% Wintershall Norge AS DNO, Petoro
PL 248 GS Offshore Exploration 20% Wintershall Norge AS DNO, Petoro
PL 293 HS Offshore Exploration 20% Statoil Petroleum AS DNO, Idemitsu
PL811 Offshore Exploration 20% Spirit Energy Norge AS DNO, Aker BP ASA, Faroe Petroleum
PL889 Offshore Exploration 20% VNG Norge AS DNO, Concedo
PL921 Offshore Exploration 30% Statoil Petroleum AS DNO, Petoro AS
PL921 Offshore Exploration 30% Statoil Petroleum AS DNO, Petoro AS
PL922 Offshore Exploration 20% Spirit Energy Norge AS DNO, Maersk Oil Norway AS, VNG Norge AS
PL923 Offshore Exploration 20% Statoil Petroleum AS DNO, Petoro AS, Wellesley Petroleum AS
PL924 Offshore Exploration 30% Statoil Petroleum AS DNO
PL926 Offshore Exploration 30% Faroe Petroleum Norge AS DNO, Concedo ASA
PL929 Offshore Exploration 20% Neptune Energy DNO, DEA Norge AS, Pandion Energy AS
PL931 Offshore Exploration 40% Wellesley Petroleum AS DNO
PL943 Offshore Exploration 30% Statoil Petroleum AS DNO, Capricorn Norge AS
PL951 Offshore Exploration 30% Aker BP ASA DNO, Eni Norge AS, Concedo ASA
PL953 Offshore Exploration 30% Wintershall Norge AS DNO, Concedo ASA

United Kingdom[edit]

License Type Status Ownership Operator Partners
P1982 Offshore Exploration 35% Apache Beryl I Limited DNO, Enterprise
P1998 Offshore Exploration 22.50% Apache North Sea Limited DNO, Euroil Exploration Limited
P2074 Offshore Exploration 25% Chrysaor CNS Limited DNO, Ineos

Yemen[edit]

License Type Status Ownership Operator Partners
Block 47 Onshore Development/Exploration 40% DNO The Yemen Company, Geopetrol Hadramaut Inc.

Oman[edit]

License Type Status Ownership Operator Partners
Block 8 Oil/Gas Producing 50% DNO LG International Corp.

Tunisia[edit]

License Type Status Ownership Operator Partners
Hammamet Offshore Offshore Exploration 30% Chinook Energy Inc. DNO
Sfax and Ras El Besh Offshore Exploration 87.5% DNO Eurogas International Ltd., Atlas Petroleum Exploration Worldwide Ltd.

Somaliland[edit]

License Type Status Ownership Operator Partners
Block SL-18 Onshore Exploration 50% DNO Petrogas, Republic of Somaliland

References[edit]

  1. ^ a b c d e f "Annual Report 2017" (PDF). DNO ASA. Retrieved 19 April 2018. 
  2. ^ "Final statement in complaint Industri Energi – DNO". regjeringen.no. Retrieved 2018-06-04.
  3. ^ "Industri Energi express concern about how DNO has treated workers in Yemen". industrienergi.no (2016-12-19). Retrieved 2018-06-04.
  4. ^ "DNO forced to pay workers". industrienergi.no (2016-03-09). Retrieved 2018-06-04.

External links[edit]

Financial statements and presentations[edit]