DNO International ASA - Third quarter 2009 Production Report
(Thomson Reuters ONE) - ("DNO" or "the Company")DNO is pleased to report production for third quarter 2009. DNO'sworking interest production was 44,578 bopd in third quarter. DNO'snet entitlement production increased from 11,753 bopd in secondquarter to 29,783 bopd in third quarter.PRODUCTION REPORTYemen productionDNO's working interest (WI) production from Yemen in third quarter2009 was 7,542 bopd and DNO's net entitlement production was 4,987bopd. Average realized oil price for the Yemen net entitlementproduction in third quarter was 69 USD/bbl.The decline of oil production from the Yemen fields has to a highextent been compensated by well optimization work and effect of newinfill wells. A small repair of the export pipe line from the Block32 Tasour field caused shut-in of oil shipment to the terminal for 3days in September. Further optimization of the permanent remoteprocess and export facilities at the Bayoot field in Block 53 isongoing. The production rate from the Bayoot wells has improved afterthe installation of down-hole pumps in the wells, and has beenaveraging at approximately 3,855 (gross) in the third quarterProduction from Yemen is reported as follows: (Bopd) Jul-09 Aug-09 Sep-09 Q3 2009 YTD-09 Gross production 17,918 18,959 18,736 18,535 18,701 DNO's working interest (WI) 7,396 7,694 7,536 7,542 7,780 DNO's net entitlement (NE) 4,675 5,149 5,143 4,987 5,567 Achieved oil price (USD/bbl) 66 73 69 69 57The production figures include crude oil consumed in the operation ofthe Company's production facilities, at an accumulated volume of 295bopd in third quarter 2009Tawke productionDNO's working interest (WI) production from the Tawke field inKurdistan in third quarter 2009 was 37,036 bopd and DNO's netentitlement production was 24,796 bopd.Production from Tawke is reported as follows: (Bopd) Jul-09 Aug-09 Sep-09 Q3 2009 YTD-09 Total gross production 42,006 50,248 30,886 41,157 18,226 DNO's working interest (WI) 37,791 45,223 27,797 37,036 16,403 DNO's net entitlement (NE) 25,303 30,240 18,645 24,796 10,973The production figures include crude oil consumed in the operation ofthe Company's production facilities, at an accumulated volume of 108bopd in third quarter 2009.Gross production in third quarter was 41,157 bopd. Out of total grossproduction, gross export volume from Tawke was 34,634 bopd. Localsale of crude oil to the domestic market in third quarter contributedwith 6,387 bopd. Inventory changes affect the sales figures.SUMMARY OF ONGOING DRILLING ACTIVITIES IN YEMENDrilling of infill production wells has commenced both in the Block32 Tasour Field and the Block 53 Bayoot Field. This will be followedup by drilling a horizontal production well in the Block 43 NabrajahField, which is expected to start late October.The exploration well Harad #1 in Block 52 was concluded as a drywell, after having tested a structure in Block 52 in early September.Only some minor oil shows were encountered in the Qishn sandstonereservoir. The side-track drilling of well Raoq-1S in Block 53 provedagain movable oil both in Cretaceous and Jurassic carbonates.However, the well failed to produce oil at commercial rate and thewell is abandoned and expensed in third quarter.KURDISTAN OPERATIONSExport of crude oil from the Tawke field commenced 1 June 2009 andcontinued until 21 September 2009. In this period the Tawkeproduction and export increased in line with the plan agreed with theKRG and North Oil Company (NOC), and the Tawke facilities have beentasted at their design capacity. The average deliveries in Augustfrom Tawke were close to the design capacity.As previously reported KRG suspended all DNO's operations in theKurdistan Region with immediate effect 21 September. All issues withrespect to the suspension were resolved 5 October and DNO's rights toits production sharing contracts were reinstated with immediateeffect. Going forward DNO will focus on local sales until a futurepayment mechanism for crude exports is in place.DNO International ASA19 October, 2009This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 19.10.2009 - 08:09 Uhr
Sprache: Deutsch
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