Oslo, 21 March 2024 - DNO ASA, the Norwegian oil and gas operator,
today announced completion of an appraisal well and sidetrack that further
delineated the 2023 Heisenberg oil and gas discovery in Norwegian North Sea
license PL827SB. Heisenberg, a new shallow play in the northern part of the
Norwegian North Sea, is now estimated to hold recoverable volumes in the range
of 24 to 56 million barrels of oil equivalent (MMboe) (mean of 37 MMboe). Oil-
bearing sands were encountered in a deeper secondary target, Hummer.
The license partnership, which in addition to DNO Norge AS (49 percent) includes
operator Equinor Energy AS, is planning a well in the second quarter of this
year to explore an additional deep prospect, Angel, while delineating Heisenberg
towards the west.
Surrounded by major North Sea hubs Troll B, Kvitebjørn and Gjøa (the first two
operated by Equinor), Heisenberg lies within tieback range of these hosts.
Studies are underway for fast-track development of Heisenberg in coordination
with a string of recent discoveries in this area in which DNO has a significant
presence, including in last year's Carmen discovery (30 percent).
"With recent exploration successes, our North Sea portfolio has tilted towards
quality discoveries which we now need to rebalance by adding production," said
DNO's Executive Chairman Bijan Mossavar-Rahmani.
In 2023, the Company was the third most active exploration driller on the
Norwegian Continental Shelf and ranked second in terms of discovered volumes
with an estimated 100 MMboe net to DNO. The Company has prioritized near-
infrastructure exploration in areas with clear routes to commercialization of
discoveries and has been an early mover in acquiring substantial acreage
positions in selected areas which have since become hotspots.
-
For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
-
DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West Africa. 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, Côte d'Ivoire, Netherlands and Yemen.
This information is subject to the disclosure requirements pursuant to §5-12 of
the Norwegian Securities Trading Act.