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FINANCIAL NEWS
DNO unveils new oil and gas findings in Oman
03 Nov 2012
(MENAFN) Norweigan oil and gas firm DNO International ASA unveiled new oil findings in Oman, Saudi Gazette reported.
The company said the findings were located in West Bukha-4 well, Block 8 offshore the Sultanate, with an initial flowing capacity of 7,000 barrels per day (bpd), and 15 million cubic feet of gas per day.
DNO added that at the initial test rates, it expects to nearly double current oil production from the West Bukha field to 15,000 bpd.
DNO International is a 50/50 partner in the block, containing the West Bukha and Bukha fields, with South Korea’s LG International.
DNO International recorded production of 41,545 barrels of oil equivalent per day on a Company Working Interest (CWI) basis in the third quarter, up from 23,234 barrels of oil equivalent per day in the second quarter of 2012, boosted by the resumption of oil exports from the Tawke field in Kurdistan Region of Iraq.
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