Oslo-headquartered and KRG-focused DNO spent $164mn on its Kurdistan operations in the first half of this year and expects to spend another $175mn in H2, the Norwegian independent confirmed in its half-year results this week. $225mn (versus $138mn in 2018) of this is earmarked for capex which puts DNO on a solid footing to maintain output at its key Tawke license at around the 127,000 b/d 1H 2019 figure for the remainder of 2019.
That DNO looks poised to hit (and indeed exceed) its 2019 spending targets is a massive win for Iraqi Kurdistan’s oil sector. (CONTINUED - 920 WORDS)
