Kurdistan Operational Update
(Thomson Reuters ONE) -
12 October 2016 - DNO ASA, the Norwegian oil and gas operator, today reported
the completion of three new production wells at the flagship Tawke field in the
Kurdistan region of Iraq as part of a stepped up drilling program kicked off in
July 2016.
The Tawke-31 well, targeting the main Cretaceous reservoir will be brought on
production following an acid stimulation program. Two additional wells targeting
the shallow Jeribe reservoir, Tawke-33 and Tawke-34, are also being readied for
production. A fourth well, Tawke-37, will be spud next week. The four wells are
expected to cost less than USD 20 million in total and add about 10 percent to
field output capacity.
Earlier this month the company also spudded the Peshkabir-2 well to appraise the
Jurassic reservoir and explore the deeper Cretaceous horizon on a previous
discovery to the west of the main Tawke field. This well marks the completion of
the current drilling program at the Tawke license which was initiated on the
back of monthly export payments from the Kurdistan Regional Government. Plans to
engage a third drilling rig were dropped in September though the company expects
to re-start investments to boost production to a targeted level of 135,000
barrels of oil per day (bopd) following the resumption of regular and
predictable payments.
Tawke production during the third quarter averaged 109,159 bopd, of which
108,759 bopd was delivered for export through Turkey.
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For further information, please contact:
Media: media(at)dno.no
Investors: investor.relations(at)dno.no
Tel: +47 911 57 197
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DNO ASA is a Norwegian oil and gas operator focused on the Middle East and North
Africa. 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, Yemen, Oman, the
United Arab Emirates, Tunisia and Somaliland.
--
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DNO ASA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 12.10.2016 - 08:01 Uhr
Sprache: Deutsch
News-ID 499985
Anzahl Zeichen: 2726
contact information:
Town:
Oslo
Kategorie:
Business News
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"Kurdistan Operational Update"
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