As a result of increased oil production in Iraqi Kurdistan, the Norwegian oil and gas operator DNO reported a $35 million profit for the second quarter of 2024.
During the second quarter, DNO’s average production in Kurdistan reached 79,783 barrels per day (bpd), an increase of 5% from the previous quarter.
The DNO report states that the Peshkabir and Tawke fields, which produced 49,099 bpd and 30,684 bpd, provided the majority of the output. The Bashiqa field reported no production.
The company reported that local merchants paid an average of $30 per barrel for oil from these fields, which contributed to total revenues of $137 million.
In particular, DNO’s core area of production and reserves continues to be the Kurdistan region of Iraq.
Genel Energy International Limited, a partner, holds the remaining 25% of DNO’s operated interest in the Tawke license.
