DNO reports increased oil production in Kurdistan fields

The oil company also said it plans to start drilling 15 oil wells in total at the Kurdistan Region fields of Tawke and Peshkabir in the second half of 2019.

ERBIL (Kurdistan 24) – Norwegian oil and gas operator DNO on Wednesday announced increased output at the Kurdistan Region fields of Peshkabir and Tawke in the first half of 2019, with the company’s overall net profits doubling within the same period in comparison to last year’s first half.

The first half of 2019 saw gross production average 126,700 barrels of oil per day (bpd) in the Kurdistan Region’s DNO-operated Tawke and Peshkabir fields, a statement from the company said. The two fields are shared 75-20 with Genel Energy, another oil company.

“Tawke contributed 71,700 bpd and Peshkabir 55,000 bpd.”

DNO said it plans to start drilling 15 oil wells in total at the Kurdistan Region fields in the second half, with 12 being at Tawke. This is in addition to 15 more they had drilled earlier this year. According to DNO, Peshkabir is only second to Tawke in the Kurdistan Region as the largest oil field operated by an international company.

“Also, in Kurdistan, two wells have been drilled and completed in the DNO-operated Baeshiqa license with the deeper well to be tested beginning in August.”

The company’s revenue in the first half “totaled USD 470 million, up 62 percent from the same period last year, while net profit doubled to USD 119 million.” This includes their earnings from their North Sea operations.

Editing by Karzan Sulaivany