A doubling of production at its Tawke field in the Kurdistan Regional Government (KRG) has given Norwegian independent DNO a much-needed shot in the arm after a poor first quarter, the company’s second quarter results revealed.
Sales of NOK764mn ($125mn) represented a 32% surge on the first quarter, while operating profit was up 38% at NOK367mn ($60.24mn). The results reflected improvements in the KRG operating environment, but also underline the DNO’s vulnerability to Iraqi political risk. (CONTINUED - 1348 WORDS)
