DNO has outlined a long-term production outlook for its oil assets in the Kurdistan Region of Iraq. The company shared these details in its 2025 Annual Report, highlighting plans for key licenses and emphasizing expected production stability over the coming years.
DNO confirmed that the Tawke license is set to expire in 2026. However, the contract includes an automatic five-year extension option, which could extend operations until 2031. If oil production remains commercially viable at that stage, the company may request an additional extension from the Kurdistan Regional Government. This step could push the license period further to 2036, ensuring long-term continuity.
Moreover, the company stated that current technical and financial evaluations show strong potential for continued production at Tawke. DNO expects the field to remain commercially viable throughout the contract period and any future extensions. This outlook reflects confidence in the field’s reserves, infrastructure, and operational efficiency.
In addition to Tawke, DNO also provided updates on the Baeshiqa license. The company officially declared commerciality on August 1, 2021, marking the end of the exploration phase. This transition allowed the project to move into the development stage under a production-sharing agreement.
Furthermore, the Baeshiqa project includes a 20-year development period, during which DNO plans to expand oil production and optimize output levels. If production remains economically sustainable at the end of this period, the company holds the right to request an additional five-year extension.
Therefore, these long-term plans highlight DNO’s commitment to operating in the Kurdistan Region. They also demonstrate confidence in the region’s oil sector despite ongoing market challenges. By maintaining production and investing in infrastructure, the company aims to support energy output and economic stability.
In conclusion, DNO’s strategy indicates that its Kurdistan assets will remain a key part of its global portfolio for many, many years ahead.
