DNO ASA Boosts Third-Quarter Revenue with Kurdistan Region Production

Norwegian-based oil and gas company DNO ASA reported in its financial and operational results for the third quarter of 2026, released on October 29, that it achieved record revenue and operating profit driven by the resumption of production activities in the Kurdistan Region.

Norwegian oil and gas company DNO ASA included the financial results of its operations in the Kurdistan Region in its third-quarter 2026 report published on October 29. Production, which had been suspended for four months due to security risks in the Middle East and preventative attack concerns, resumed at the Tawke and Peshkabir fields during the summer months. Gross production in the Tawke license reached an average of 73,219 barrels of oil equivalent per day in the third quarter. DNO's net share of production was 54,914 barrels per day, accounting for 38.5 percent of the company's total net production.

The company noted that the oil sales price increased to an average of $38.5 per barrel in the third quarter and rose to $45 in October. Thanks to revenues transferred to international accounts via an upfront payment system, revenues in the Kurdistan Region reached $99.5 million, while operating profit stood at $26.2 million. DNO stated that the extraction cost per barrel in the region was $5.7 and that, as of September 30, 2026, the Kurdistan Regional Government owed the company $286.3 million excluding interest.