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DNO ASA

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DNO ASA
TypeAllmennaksjeselskap
OSE: DNO
IndustryPetroleum
Founded1971
HeadquartersOslo, Norway
Area served
Worldwide
Key people
Bjoern Dale (Managing Director)
Bijan Mossavar-Rahmani (Executive Chairman)
ProductsOil and gas exploration and production
RevenueUS$1.474 billion (2025)[1]
US$512.8 million (2025)[1]
US$-25.2 million (2025)[1]
Total assetsUS$5.998 billion (2025)[1]
Total equityUS$1.329 billion (2025)[1]
Number of employees
1.159 (2025)[1]
Websitewww.dno.no

DNO ASA (OSE: DNO) is a Norwegian oil and gas operator focused on the Middle East and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom and Yemen.

About DNO

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DNO is Norway's oldest oil company and the first to list on the Oslo Stock Exchange in 1981. During the last two decades, the company's focus has shifted from the North Sea to the Middle East region.

In 2004, DNO was the first international oil company to enter the Kurdistan region of Iraq, at a time when the Kurdish region's oil industry was virtually non-existent. The company began production from its flagship Tawke oil field in Kurdistan in 2007 – just two years after the start of exploration activities. The neighboring Peshkabir field was brought on production in 2018.

DNO is now the leading international operator in Kurdistan in terms of production (more than 110,000 barrels of oil per day in 2017) and reserves (the Tawke and Peshkabir fields together hold more than 500 million barrels of proven and probable reserves).

The company also re-entered the North Sea in 2017, acquiring offshore exploration licenses in Norway and the United Kingdom. This has since expanded to include the Norwegian Sea and the Barents Sea.

In April 2024, DNO ASA, with partners including OKEA ASA, announced the advancement of the Brasse field development in the North Sea, with plans for a tie-back to the nearby Brage platform and a projected start of production in the first half of 2027. The field, expected to be renamed Bestla, holds an estimated 24 million barrels of recoverable reserves and could contribute 10,000 boepd net to OKEA at peak production, with operation potentially extending beyond 2031.[2]

Operations

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Kurdistan region of Iraq

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DNO entered the region in 2004 and now has a leading position in reserves and production.

Norway

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DNO re-entered Norway in 2017 through the acquisition of Origo Exploration and now holds twenty-one licenses on the Norwegian Continental Shelf.

United Kingdom

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DNO entered the United Kingdom in 2017 through the acquisition of Origo Exploration and now holds three licenses on the UK Continental Shelf.

Yemen

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In 1998, DNO entered Yemen, the company's first foray into the Middle East.

Assets

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As of 31 December 2025, DNO held interests in oil and natural gas exploration, development and production activities in Norway, the United Kingdom, Iraqi Kurdistan, the Netherlands and Yemen, as well as an indirect interest in Côte d'Ivoire.[3]

Kurdistan, Iraq

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License Type Status Ownership Operator Partners
Tawke PSC Onshore Production 75% DNO Iraq AS Genel Energy International Limited
Baeshiqa PSC Onshore Development 64% DNO Iraq AS Turkish Energy Company Limited, KRG

Norway

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License Type Status Ownership Operator Partners
PL001 B Offshore 15% Aker BP ASA DNO Norge AS, Equinor Energy AS
PL001 E Offshore 15% Aker BP ASA DNO Norge AS, Equinor Energy AS
PL006 C (SE Tor) Offshore Production 65% DNO Norge AS Aker BP ASA
PL018 (Ekofisk) Offshore Production 7,6% ConocoPhillips Skandinavia AS DNO Norge AS, TotalEnergies EP Norge AS, Vår Energi ASA, Petoro AS
PL019 (Ula) Offshore Production 20% Aker BP ASA DNO Norge AS
PL019 E (Ula) Offshore Production 20% Aker BP ASA DNO Norge AS
PL019 F (Ula) Offshore Production 45% Aker BP ASA DNO Norge AS
PL028 B (Hanz) Offshore 15% Aker BP ASA DNO Norge AS, Equinor Energy AS
PL040 (Martin Linge) Offshore Production 19% Equinor Energy AS DNO Norge AS, Petoro AS
PL043 (Martin Linge) Offshore Production 19% Equinor Energy AS DNO Norge AS, Petoro AS
PL043 BS (Martin Linge) Offshore Production 19% Equinor Energy AS DNO Norge AS, Petoro AS
PL048 D (Enoch) Offshore 9,3% Equinor Energy AS Petrolia NOCO AS, Aker BP ASA, DNO Norge AS
PL053 B (Brage) Offshore Production 14,3% OKEA ASA Lime Petroleum AS, DNO Norge AS, Petrolia NOCO AS, M Vest Energy AS
PL055 (Brage) Offshore Production 14,3% OKEA ASA Lime Petroleum AS, DNO Norge AS, Petrolia NOCO AS, M Vest Energy AS
PL055 B (Brage) Offshore Production 14,3% OKEA ASA Lime Petroleum AS, DNO Norge AS, Petrolia NOCO AS, M Vest Energy AS
PL055 D (Brage) Offshore Production 14,3% OKEA ASA Lime Petroleum AS, DNO Norge AS, Petrolia NOCO AS, M Vest Energy AS
PL055 E (Brage) Offshore Production 14,3% OKEA ASA Lime Petroleum AS, DNO Norge AS, Petrolia NOCO AS, M Vest Energy AS
PL055 FS (Brage) Offshore Production 14,3% OKEA ASA Lime Petroleum AS, DNO Norge AS, Petrolia NOCO AS, M Vest Energy AS
PL065 (Tambar) Offshore Production 45% Aker BP ASA DNO Norge AS
PL065 B (Tambar) Offshore Production 45% Aker BP ASA DNO Norge AS
PL090 C Offshore 25% Harbour Energy Norge AS DNO Norge AS, Vår Energi ASA, Inpex Idemitsu Petroleum Norge AS
PL122 (Marulk) Offshore Production 37% DNO Norge AS Equinor Energy AS, Orlen Upstream Norway AS
PL122 B (Marulk) Offshore Production 37% DNO Norge AS Equinor Energy AS, Orlen Upstream Norway AS
PL122 C (Marulk) Offshore Production 37% DNO Norge AS Equinor Energy AS, Orlen Upstream Norway AS
PL122 D (Marulk) Offshore Production 37% DNO Norge AS Equinor Energy AS, Orlen Upstream Norway AS
PL127 (Verdande) Offshore Development/Production 25% Equinor Energy AS Japex Norge AS, DNO Norge AS
PL127 DS (Verdande) Offshore Development/Production 56% DNO Norge AS Japex Norge AS
PL128 (Nome) Offshore Production 14,8% Equinor Energy AS Petoro AS, DNO Norge AS
PL128 B (Nome) Offshore Production 6,9% Equinor Energy AS Petoro AS, DNO Norge AS
PL128 D (Nome) Offshore Production 14,8% Equinor Energy AS Petoro AS, DNO Norge AS
PL128 E (Nome) Offshore Production 14,8% Equinor Energy AS Petoro AS, DNO Norge AS
PL147 (Trym) Offshore Production 100% DNO Norge AS
PL147 B (Trym) Offshore Production 100% DNO Norge AS
PL159 B (Alve) Offshore Production 32% Equinor Energy AS DNO Norge AS, Orlen Upstream Norway AS
PL159 G (Alve) Offshore Production 32% Equinor Energy AS DNO Norge AS, Orlen Upstream Norway AS
PL167 (Symra) Offshore Development 20% Aker BP ASA Equinor Energy AS, DNO Norge AS
PL167 B (Symra) Offshore Development 20% Aker BP ASA Equinor Energy AS, DNO Norge AS
PL167 C (Symra) Offshore Development 20% Aker BP ASA Equinor Energy AS, DNO Norge AS
PL185 (Brage) Offshore Production 14,3% OKEA ASA Lime Petroleum AS, DNO Norge AS, Petrolia NOCO AS, M Vest Energy AS
PL193 (Kvitebjørn) Offshore Production 19% Equinor Energy AS DNO Norge AS, Petoro AS, Orlen Upstream Norway AS, TotalEnergies EP Norge
PL193 C (Kvitebjørn) Offshore Production 19% Equinor Energy AS DNO Norge AS, Petoro AS, Orlen Upstream Norway AS, TotalEnergies EP Norge
PL211 (Dvalin) Offshore Production 10% Harbour Energy Norge AS DNO Norge AS, Petoro AS
PL242 (Ivar Aasen) Offshore Production 15% Aker BP ASA DNO Norge AS, Equinor Energy AS, OKEA ASA, M Vest Energy AS
PL242 B (Ivar Aasen) Offshore Production 15% Aker BP ASA DNO Norge AS, Equinor Energy AS, OKEA ASA, M Vest Energy AS
PL248 F (Vega) Offshore Production 20% Harbour Energy Norge AS Petoro AS, DNO Norge AS
PL248 GS (Vega) Offshore Production 20% Harbour Energy Norge AS Petoro AS, DNO Norge AS
PL248 K (Vega) Offshore Production 20% Harbour Energy Norge AS Petoro AS, DNO Norge AS
PL293 B Offshore 20% Equinor Energy AS DNO Norge AS, Japex Norge AS, Inpex Idemitsu Petroleum Norge AS
PL293 CS Offshore 29% Equinor Energy AS DNO Norge AS, Japex Norge AS, Inpex Idemitsu Petroleum Norge AS
PL300 (Tambar Øst) Offshore Development 45% Aker BP ASA DNO Norge AS
PL375 Offshore 20% Equinor Energy AS DNO Norge AS, Vår Energi ASA, Petoro AS
PL378 Offshore 12,1% Harbour Energy Norge AS DNO Norge AS, Pandion Energy AS
PL405 (Oda) Offshore Production 85% Aker BP ASA DNO Norge AS
PL418 (Nova) Offshore Development 45% Harbour Energy Norge AS DNO Norge AS, OKEA ASA, Pandion Energy AS
PL418 B (Nova) Offshore Development 45% Harbour Energy Norge AS DNO Norge AS, OKEA ASA, Pandion Energy AS
PL435 (Dvalin) Offshore Production 10% Harbour Energy Norge AS DNO Norge AS, Petoro AS
PL475 BS (Maria) Offshore Production 20% Harbour Energy Norge AS DNO Norge AS, Petoro AS
PL475 CS (Maria) Offshore Production 20% Harbour Energy Norge AS DNO Norge AS, Petoro AS
PL586 (Fenja) Offshore Production 25% Vår Energi ASA DNO Norge AS
PL586 B (Fenja) Offshore Production 25% Vår Energi ASA DNO Norge AS
PL636 (Duva) Offshore Production 10% Vår Energi ASA DNO Norge AS, Inpex Idemitsu Norge AS, Orlen Upstream Norway AS
PL636 B (Duva) Offshore Production 10% Vår Energi ASA DNO Norge AS, Inpex Idemitsu Norge AS, Orlen Upstream Norway AS
PL636 C (Duva) Offshore Production 10% Vår Energi ASA DNO Norge AS, Inpex Idemitsu Norge AS, Orlen Upstream Norway AS
PL636 D (Duva) Offshore Production 10% Vår Energi ASA DNO Norge AS, Inpex Idemitsu Norge AS, Orlen Upstream Norway AS
PL644 (Berling) Offshore Development 30% OMV (Norge) AS Equinor Energy AS, DNO Norge AS
PL644 B (Berling) Offshore Development 30% OMV (Norge) AS Equinor Energy AS, DNO Norge AS
PL644 C (Berling) Offshore Development 30% OMV (Norge) AS Equinor Energy AS, DNO Norge AS
PL644 D (Berling) Offshore Development 30% OMV (Norge) AS Equinor Energy AS, DNO Norge AS
PL740 (Bestla) Offshore Development 39,3% OKEA ASA DNO Norge AS, Lime Petroleum AS, M Vest Energy AS
PL827 S Offshore 49% Equinor Energy AS DNO Norge AS
PL827 SB Offshore 49% Equinor Energy AS DNO Norge AS
PL836 S Offshore 30% Harbour Energy Norge AS DNO Norge AS, Equinor Energy AS
PL836 SB Offshore 30% Harbour Energy Norge AS DNO Norge AS, Equinor Energy AS
PL923 Offshore 20% Equinor Energy AS DNO Norge AS, Petoro AS
PL923 B Offshore 20% Equinor Energy AS DNO Norge AS, Petoro AS
PL929 Offshore 10% Vår Energi ASA Harbour Energy AS, Pandion Energy Norge AS, Aker BP ASA, DNO Norge AS
PL956 Offshore 15% Vår Energi ASA DNO Norge AS, Aker BP ASA
PL984 Offshore 30% DNO Norge AS Vår Energi ASA, Source Energy AS, Equinor Energy AS, Aker BP ASA
PL1049 Offshore 40% DNO Norge AS Concedo AS, Petoro AS
PL1085 Offshore 25% Aker BP ASA DNO Norge AS, Petoro AS
PL1086 Offshore Exploration 50% DNO Norge AS Aker BP ASA, Petoro AS, Source Energy AS
PL1102 Offshore 30% OKEA ASA DNO Norge AS, Aker BP ASA, Equinor Energy AS
PL1102 B Offshore 30% OKEA ASA DNO Norge AS, Aker BP ASA, Equinor Energy AS
PL1102 C Offshore 30% Equinor Energy AS DNO Norge AS, Aker BP ASA
PL1108 Offshore 40% DNO Norge AS OKEA ASA, Pandion Energy AS
PL1109 Offshore 20% OMV (Norge) AS Aker BP ASA, DNO Norge AS, Pandion Energy AS, OKEA ASA
PL1113 Offshore 30% OKEA ASA DNO Norge AS
PL1119 Offshore 10% Equinor Energy AS Inpex Idemitsu Norge AS, OKEA ASA, DNO Norge AS
PL1121 Offshore 30% Equinor Energy AS DNO Norge AS, Vår Energi ASA
PL1135 Offshore Exploration 20% Orlen Upstream Norway AS DNO Norge AS, Source Energy AS
PL1147 Offshore 20% Aker BP ASA DNO Norge AS, Equinor Energy AS
PL1148 Offshore 30% Wellesley Petroleum AS DNO Norge AS, Equinor Energy AS, Aker BP ASA
PL1148 B Offshore 30% Wellesley Petroleum AS DNO Norge AS, Equinor Energy AS, Aker BP ASA
PL1148 CS Offshore 30% Wellesley Petroleum AS DNO Norge AS, Equinor Energy AS, Aker BP ASA
PL1150 S Offshore 40% OKEA ASA DNO Norge AS
PL1151 Offshore 20% Harbour Energy Norge AS Aker BP ASA, DNO Norge AS, Pandion Energy AS, Equinor Energy AS
PL1151 B Offshore 20% Harbour Energy Norge AS Aker BP ASA, DNO Norge AS, Pandion Energy AS, Equinor Energy AS
PL1158 Offshore 40% Aker BP ASA DNO Norge AS, Equinor Energy AS
PL1171 Offshore 34% Aker BP ASA DNO Norge AS
PL1172 Offshore 30% Aker BP ASA DNO Norge AS, Orlen Upstream Norway AS
PL1175 Offshore 20% Aker BP ASA DNO Norge AS, Orlen Upstream Norway AS
PL1175 B Offshore 30% Aker BP ASA DNO Norge AS, Orlen Upstream Norway AS
PL1177 Offshore Equinor Energy AS DNO Norge AS, OMV (Norge) AS
PL1182 S Offshore Exploration 40% DNO Norge AS Aker BP ASA, Concedo AS
PL1185 Offshore 20% Equinor Energy AS DNO Norge AS, Aker BP ASA, Vår Energi ASA
PL1186 Offshore 20% Equinor Energy AS DNO Norge AS, Harbour Energy Norge AS, OKEA ASA
PL1198 Offshore 20% Aker BP ASA DNO Norge AS, Petoro AS, Source Energy AS
PL1198 B Offshore 20% Aker BP ASA DNO Norge AS, Petoro AS, Source Energy AS
PL1203 Offshore 20% Vår Energi ASA Equinor Energy AS, DNO Norge AS, Petoro AS
PL1204 Offshore 40% DNO Norge AS Equinor Energy AS
PL1204 BS Offshore 60% DNO Norge AS Equinor Energy AS
PL1205 Offshore 40% ConocoPhillips Skandinavia AS DNO Norge AS
PL1209 Offshore 40% DNO Norge AS Concedo AS, Equinor Energy AS
PL1212 S Offshore 40% Equinor Energy AS DNO Norge AS, Aker BP ASA
PL1213 S Offshore 30% Vår Energi ASA DNO Norge AS, Harbour Energy Norge AS
PL1216 Offshore 40% DNO Norge AS Harbour Energy Norge AS, Source Energy AS
PL1225 S Offshore 20% Harbour Energy Norge AS DNO Norge AS, Petoro AS
PL1226 Offshore 40% Equinor Energy AS DNO Norge AS
PL1228 Offshore 30% OMV (Norge) AS Equinor Energy AS, DNO Norge AS
PL1244 Offshore 60% DNO Norge AS Aker BP ASA
PL1245 Offshore Aker BP ASA DNO Norge AS, Petoro AS
PL1251 Offshore 50% DNO Norge AS Concedo AS
PL1255 Offshore 20% Wellesley Petroleum AS Equinor Energy AS, DNO Norge AS, OKEA ASA
PL1258 Offshore 40% Petrolia NOCO AS DNO Norge AS
PL1260 Offshore 35% Vår Energi ASA DNO Norge AS, OKEA ASA
PL1267 Offshore 50% DNO Norge AS OKEA ASA, M Vest Energy AS
PL1270 Offshore 100% DNO Norge AS
PL1271 S Offshore 25% Aker BP ASA DNO Norge AS, Equinor Energy AS
PL1273 Offshore Petrolia NOCO AS DNO Norge AS

United Kingdom

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License Type Status Ownership Operator Partners
P111 Offshore Production 54,3% Repsol Sinopec Resources UK Ltd DNO North Sea (U.K.) Ltd, DNO North Sea (ROGB) Ltd, Dana Petroleum (BVUK) Ltd
P219 Offshore Production 18,2% Repsol Sinopec North Sea Ltd DNO North Sea (ROGB) Ltd, Dana Petroleum (BVUK) Ltd, Waldorf Production UK Ltd
P255 Offshore Production 45% Shell U.K. Ltd DNO North Sea (U.K.) Ltd, Spirit Energy Resources Ltd
P1720 (Arran) Offshore Production 50% Rockrose UKCS4 Ltd DNO North Sea (U.K.) Ltd
P2543 Offshore Development 50% DNO North Sea (U.K.) Ltd Aker BP UK Ltd
P359 Area A (Arran) Offshore Production 18,9% Shell U.K. Ltd DNO North Sea (U.K.) Ltd, Rockrose UKCS4 Ltd
P359 Area B (Arran) Offshore Production 18,9% Shell U.K. Ltd DNO North Sea (U.K.) Ltd, Rockrose UKCS4 Ltd

Netherlands

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License Type Status Ownership Operator Partners
D18a Offshore Production/Decommissioning 2,5% Neptune E&P UKCS Ltd DNO North Sea (U.K.) Ltd, Ineos UK SNS Ltd, Premier Oil E&P UK Ltd

Yemen

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License Type Status Ownership Operator Partners
Block 47 Onshore Suspended 64% DNO Yemen AS The Yemen Company, Geopetrol Hadramaut Incorporated

Côte d'Ivoire

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License Type Status Ownership Operator Partners
Block CI-27 Offshore Production/Exploration 9% indirect Foxtrot International LDC SECI SA, Petroci

Board of directors

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Bijan Mossavar-Rahmani - Executive Chairman

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Bijan Mossavar-Rahmani is an experienced oil and gas executive and has served as DNO's Executive Chairman of the Board of Directors since 2011. Mr. Mossavar-Rahmani serves concurrently as Executive Chairman of Oslo-listed RAK Petroleum plc, DNO's largest shareholder. He is a member of the nomination and remuneration committees.

Lars Arne Takla - Deputy Chairman

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Lars Arne Takla has extensive experience from various managerial, executive and board positions in the international oil and gas industry. He was elected to DNO's Board of Directors in 2012 and is a member of the HSSE committee.

Elin Karfjell - Director

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Elin Karfjell is Managing Partner of Aelika AS and has held various management positions across a broad range of industries. Ms. Karfjell was elected to DNO's Board of Directors in 2015 and is a member of the audit committee.

Gunnar Hirsti - Director

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Gunnar Hirsti has executive experience from various managerial, executive and board positions in the oil and gas industry as well as the information technology industry in Norway. He was elected to DNO's Board of Directors in 2007 and is a member of the audit and remuneration committees.

Shelley Watson - Director

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Shelley Watson began her career as a reservoir surveillance and facilities engineer with Esso Australia in its offshore Bass Strait operation. She has served on DNO's Board of Directors since 2010 and is a member of the audit committee.

Criticism from the National Contact Point

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The Norwegian National Contact Point concluded in 2018 that DNO had not met the expectations expressed in the OECD Guidelines on prior notice and consultation with the employees of DNO Yemen in connection with suspension of the company's Yemeni operations in 2015.[4] The key issue in the complaint concerned lack of prior notice and consultation between DNO and the employee representatives in Yemen in connection with collective dismissals and suspension of production in the war-like situation that prevailed in 2015. The complaint also concerned the question of whether DNO had obstructed the workers’ right to organize and collective bargaining in Yemen, and the validity of dismissals as part of the downsizing process.

Industri Energi had for some time tried to help the workers of DNO Yemen after having received desperate appeals from the workers who were sacked by text messages and e-mails when the company withdrew from the country, and not been given the wages and benefits they were entitled to.[5] Still the workers have not received the compensation they legally are entitled to according to court decisions in Yemen.[6]

References

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  1. 1 2 3 4 5 6 "Annual Report 2025". DNO ASA. Retrieved 8 August 2025.
  2. "OKEA, DNO Make FID on Brasse Development in North Sea". www.rigzone.com. Retrieved 2024-04-09.
  3. "2025 annual report" (PDF). www.dno.no.
  4. "Final statement in complaint Industri Energi – DNO". regjeringen.no. Retrieved 4 June 2018.
  5. "Industri Energi express concern about how DNO has treated workers in Yemen". industrienergi.no. 19 December 2016. Archived from the original on 21 June 2018. Retrieved 4 June 2018.
  6. "DNO forced to pay workers". industrienergi.no. 9 March 2016. Archived from the original on 21 June 2018. Retrieved 4 June 2018.
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Financial statements and presentations

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