Shafaq News/The Norwegian oil and gas operator DNO reported a $35 million profit for thesecond quarter of 2024, driven by increased oil production in Iraqi Kurdistan,the company announced on Saturday.
DNO'saverage production in Kurdistan reached 79,783 barrels per day (bpd) during thesecond quarter, marking a 5% rise from the previous quarter.
According tothe DNO report, the output was primarily sourced from the Peshkabir and Tawkefields, which produced 49,099 bpd and 30,684 bpd, respectively. No productionwas reported from the Bashiqa field.
The companynoted that the average selling price for oil from these fields was $30 perbarrel to local traders, contributing to total revenues of $137 million.
Notably, theKurdistan region of Iraq remains DNO's core area in production and reserves.
DNO holds a75 percent operated interest in the Tawke license, with partner Genel EnergyInternational Limited holding the remaining 25 percent.