The company announced that it would ramp up spending in Iraqi Kurdistan to maximize output from current wells at the flagship Tawke licence in the second quarter of 2024, after which it said gross output from the Tawke and Peshkabir fields would increase to average 83,500 barrels of oil equivalent per day during the first half of the third quarter, 5% higher than the second quarter and up 9% from the first of quarter 2024.
The Norwegian company added the following to its statement announcing subsidiary results for Q2:
DNO is finalising plans to mobilize a rig to spud the first new well on the license since early 2023, to help arrest natural field decline, production from recently drilled and yet- to- be brought on stream producing wells.
“At the other operated Kurdistan license, Baeshiqa (DNO 64 percent), the B-3 well was drilled to target depth at the start of May, and testing has now commenced and is expected to run for 72 days.”
Executive Chairman of DNO, Bijan Mossavar-Rah
“Value for our Kurdistan barrels is not being completely realized as the Iraq-Türkiye export pipeline has remained twisted in a Gordian knot. Until the knot is untied, we will compensate by increasing manufacturing costs and insisting on prepayments to our foreign bank accounts.
