DNO Sees ‘Interesting Opportunities’ In Iran
Reuters Thursday, August 20, 2015

Norway's DNO ASA, which has operations across the Middle East, would like to do business in Iran if sanctions against the country are lifted as planned, the energy company said Aug. 20.

DNO has its biggest operation in Iraqi Kurdistan, where it produced about 153,000 barrels of oil per day in the second quarter. It is also present in Oman, Yemen, Somaliland, Tunisia and the United Arab Emirates.

"Iran offers interesting opportunities at such time as international sanctions are removed," the company said. "DNO (is) uniquely well placed as it operates oil and gas projects, both onshore and offshore, in three neighboring countries with specific synergies and opportunities."

The firm's technology and experience could be relevant to increase output from Iran's existing fields and for developing new ones, it said.

DNO reported a second-quarter net loss of $39.9 million versus a profit of $44.4 million a year earlier.