DNO Signs MoU to Develop Iran's Changuleh Oil Field
(Thomson Reuters ONE) -
Oslo, 16 November 2016 - DNO ASA, the Norwegian oil and gas operator, today
announced the signing of a memorandum of understanding (MoU) with the National
Iranian Oil Company (NIOC) to conduct a study concerning the development of the
Changuleh oil field in western Iran.
Changuleh, discovered in 1999 but never developed, is estimated to hold more
than 2 billion barrels of oil-in-place.
"Iran presents an obvious and exciting next step in expanding DNO's footprint in
the region," said DNO's Managing Director Bjørn Dale. "Our low-cost, fast-track
development strategy and our fractured carbonate reservoir experience in the
Kurdistan region of Iraq can be easily applied and leveraged in Iran," he added.
The Company has established a wholly owned subsidiary DNO Iran AS amid
preparations to increase its presence in Iran.
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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.
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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: 16.11.2016 - 13:29 Uhr
Sprache: Deutsch
News-ID 507518
Anzahl Zeichen: 2063
contact information:
Town:
Oslo
Kategorie:
Business News
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"DNO Signs MoU to Develop Iran's Changuleh Oil Field"
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