2009
In March, the tie-in of the Tawke pipeline to Iraq’s northern pipeline system was completed and DNO was ready for full-scale production.
DNO divested 11.9% of DETNOR shares, bringing the total ownership down to 25%.
On 10 May, DNO was given formal notice by KRG to commence export from the Tawke field.
On 1 June, DNO started export.
2008
DNO shifted focus from exploration towards increased production and near-term development.
DNO responded to the change in the financial environment by initiating measures to reduce investments significantly in the short to medium term.
The Tawke Phase 1 development was completed and commenced the remaining work to prepare for full-scale production from the field.
Permanent development of the Bayoot field in Yemen was initiated with expected completion at the end of 2009.
2007
In June, production commenced from the Tawke field in the Kurdistan region of Iraq.
The Norwegian subsidiary (NOIL Energy ASA, “NOIL”) was listed at OTC.
In July, the first well with DNO as operator on the Norwegian Continental Shelf (“NCS”) was spudded in the Lie prospect in PL 305.
New licenses were granted in Norway and Yemen. At the end of August, our portfolio holds 41 licenses – 22 of which we operate.
On October 8, an integration agreement was entered in order to combine NOIL with Pertra ASA (later renamed Det norske oljeselskap ASA; "DETNOR"), creating the second largest Norwegian oil and gas company. Subsequently, DNO reduced its shareholdings in DETNOR to 36.9%.
DNO ASA changed its name to DNO International ASA – to emphasise the difference between Det norske oljeselskap and DNO ASA.
2006
Our high margin production in Yemen generated significant cashflow. Successful infill drilling increased output in these maturing fields.
An important breakthrough in Northern Iraq was the Tawke oil discovery, which was confirmed by our very first exploration well within the area.
The office in Dubai was opened – from where the Northern Iraq operations are managed.
Rig capacity for exploration drilling on the NCS was secured through a 3-year contract together with a consortium of several other companies.
DNO participated in a discovery in the Goliat field (PL229) in the Barents Sea – adding significant volumes to the reserve and resource base.
The Jaguar prospect in P1067 in UK was drilled with DNO as operator, but the well did not prove commercial volumes.
2005
The company achieved significant reserve additions at low cost through successful drilling in Yemen, and production increased from start-up of Nabrajah field in Yemen.
DNO was awarded licenses in Norway and UK.
Initial work program started in Northern Iraq by seismic surveys and spudding of first exploration well.
DNO delivered significant value to shareholders through two dividend payments in cash and treasury shares.
2004
The sale of licenses to Lundin Petroleum AB (“Lundin”) was completed in the first half of 2004. The total settlements for the licenses amounted to approximately NOK 1,7 billion.
In June, DNO entered into production sharing agreements (“PSA”) with the Kurdistan Regional Government (“KRG”) in Northern Iraq.
DNO secured 9 new licenses in Norway and Yemen during the course of the year.
2003
DNO ASA decided to enter into a Sale and Purchase Agreement with Lundin, for the sale of all of the issued share capital of DNO Britain Limited and Island Petroleum Developments Limited, and the sale of certain assets in Det Norske Oljeselskap AS.
2002
Received approval to act as operator in the NCS.
Acquired 99 percent working interest and became operator on the Thistle field in UK and acquired and commenced development on Seven Heads gas field in Ireland.
2001
The Broom field was successfully appraised.
2000
The presence in the Norwegian sector of the North Sea was re-established and DNO acquired working interests in the Jotun and Glitne fields, and the PL 203 license.
The Company made an oil discovery in Yemen (Sharyoof).
1998
DNO acquired working interest for the first time in onshore oil fields in Yemen.
1997
DNO became field operator on UK sector of the North Sea.
1996
New BOD and management team implemented strategy of focusing on the development of small oil fields and tail-end production.
Pursuant to the new EU regulations for Public Limited companies in 1996; the company changed its name from DNO AS to DNO ASA.
1995
A fluctuating market resulted in short-term strategies and significant downsizing of the organisation. The company had three employees.
1991
The company sold all its petroleum licenses, and in order to appear as a pure investment company the company changed its name to DNO AS.
1989
A share issue brought in NOK 175 million in new capital. DNO was regarded as a significant player with sound knowledge of the Norwegian, UK and Dutch sectors of the North Sea.
1988
After a period of significant fluctuations in the crude oil prices worldwide, consumption increased and DNO again focused on exploration activities.
1984
DNO was one of four Norwegian companies to be awarded license interests on the Norwegian shelf by the Norwegian parliament.
1974
Initial revenues generated from oil production through a 6.25 percent working interest in the Heather field in UK sector of the North Sea.
1971
DNO ASA was founded under the name Det Norske Oljeselskap AS to engage in petroleum exploration and production activities. It was the first Norwegian oil company to be listed on the Oslo Stock Exchange.