Norwegian energy firm DNO has reported a rise in oil production within the Kurdistan Region of Iraq during the first quarter of the current year, according to its latest financial disclosure.
The company’s operations yielded an average of 82,081 barrels of oil per day (bpd) from January through March, marking a 9.2% increase compared to the same period in the previous year. However, DNO’s net entitlement production during this quarter stood at 18,464 bpd, representing a year-on-year decline from 20,503 bpd.
In light of the ongoing closure of the Kurdistan Region’s export pipeline, DNO has indicated that its allocated share of oil production is currently being marketed domestically within Iraq.
DNO serves as the operator of the Tawke and Peshkabir oil fields and maintains participating interests in several additional fields across the Kurdistan Region.
The suspension of crude oil exports from both the Kurdistan Region and Kirkuk via Turkey has remained in effect since March 23, 2023. This disruption follows an international arbitration ruling issued in Paris. As a consequence of this prolonged export halt, Iraqi and Kurdish officials estimate financial losses exceeding $24 billion.
