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Kurdistan Oil Producer DNO Announces Record Revenues for 2018

Norwegian operator has posted revenues of over $800 million for 2018

Kurdistan focused Norwegian oil operator DNO ASA have announced their financial results for 2018 with the company reporting record revenues of $829 million, the highest number achieved in the company's 47 year history. In addition to the record revenues, the company has also achieved an operating profit of $354 million for the year.

Part of the company's success is due to their investments in drilling programme's and subsequent increased production at the Peshkabir and Tawke fields in the Kurdistan region of Iraq. 

The company is targeting further production increases in Kurdistan for 2019 with two recently completed wells expected to be placed into production this month. In addition, their drilling programme for this year includes a further 20 exploration and production wells throughout its licenses in the Kurdistan region. 

Source: DNO

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