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DNO Kurdistan operations recover rapidly from flooding

OSLO, April 4, 2024

DNO ASA, the Norwegian oil and gas operator, has announced that production and field operations at its operated Tawke licence (DNO 75%) in the Kurdistan region of Iraq have recovered from torrential flooding. 
 
The waters also washed away large sections of the banks of the Khabur River, damaging roads and interfering with loading of tanker trucks for deliveries to buyers, a DNO release said.
 
The flooding resulted from local downpours combined with snowmelt in neighboring Türkiye in the latter half of March. This led DNO to temporarily shut in its Tawke field for safety reasons while maintaining uninterrupted operations at the less exposed Peshkabir field, also within the Tawke licence. 
 
Production restored
Gross licence production dropped from above 80,000 barrels per day (bopd) to an average of 65,000 during a 10-day period but was restored to its pre-flooding level on March 30, 2024 as DNO worked to minimise flooding exposure, inspect damage and take remedial actions including installing additional truck loading facilities.
 
Given shortages of heavier crudes in regional markets, DNO negotiated with its customers to nudge Tawke/Peshkabir prices to the mid-$30 per barrel level. DNO share of sales continue to be paid directly to the Company in advance of loadings and have averaged in excess of $25 million per month in 2024.
 
No DNO employees were hurt though several substantial pieces of equipment weighing tons were washed away and have yet to be located. Notwithstanding major damage in the town of Zakho, neighbouring the Tawke field, the 2,000-year-old Roman-era arched bridge, a popular tourist attraction, survived intact. The company provided relief to the local community by supplying home appliances, including refrigerators, to families most impacted by the flooding.
 
Workovers and other field work at Tawke and Peshkabir have quickly resumed, whilst the company’s Board of Directors has given the nod to plan for new investments to maintain and then begin to bolster production. Elsewhere in Kurdistan, DNO resumed drilling with the latest well (B-3) at the operated Baeshiqa licence (DNO 64%) spud on February 21, 2024. The well has reached 1,850 metres or nearly one-half of the target depth.--TradeArabia News Service
 



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