From GlobeNewswire: 2025-02-06 01:00:00

DNO ASA reported 2024 revenues of USD 667 million, with operating profit of USD 6 million after non-cash impairments. Net production rose 50% to 77,300 boepd, with Kurdistan contributing 59,000 boepd. The company increased production in Kurdistan without new drilling and acquired interests in UK and Norwegian fields for North Sea expansion.

DNO plans to drill 4-6 North Sea exploration wells in 2025, with a focus on increasing activities in the region. The company also acquired 13 new licenses in Norway’s 2024 APA licensing round. Operational spend for 2025 is set at USD 750 million, driven by North Sea projects. DNO’s balance sheet supports growth and dividend distributions.

DNO’s 2024 highlights include a 70% production increase in Kurdistan and key acquisitions in the North Sea. Exploration activities yielded the Othello light oil discovery in Norway. Net North Sea production in Q4 rose to 19,000 boepd. The company is involved in ongoing field development projects and nearing development decisions on discoveries like Ofelia/Kyrre and Cuvette.



Read more at GlobeNewswire:: DNO Results Reflect Robust Kurdistan Production, North Sea