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DNO Announces Record Revenues in 2018 Financial Results

Kurdistan based operator achieved revenues of $829 million, the highest in its history

Following the announcement of recent successful financial results of Kurdistan based operators Genel Energy and Gulf Keystone, Norwegian operator DNO has released their financial results for 2018 boasting record revenues of $829 million, with net profits of $354 million.

In the year, DNO significantly increased its investment in development of the Peshkabir and Tawke oilfields in Kurdistan with yearly production averaging 117,600 barrels per day (bpd), up from 2017's figures of 81,700 bpd.

The company is seeking further development in 2019 with plans to drill a further 30 wells in its assets in both Kurdistan and the North Sea.

DNO is the largest operator in the Kurdistan region with the company holding a 75% stake in producing fields which make up a third of the regions production.

Source: DNO


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