Production and reserves

Gross operated production

boepd 2021 2020 2019 2018 2017
Kurdistan 108,713 110,282 123,940 113,149 109,050
North Sea - - 2,999  -  -
Oman - - 46 4,458 4,484
TOTAL 108,713 110,282 126,985 117,607 113,533

 

Net production 

boepd 2021 2020 2019 2018 2017
Kurdistan 81,535 82,711 92,955 84,824 68,980
North Sea 12,942 17,352 17,368  -  -
Oman - - 21  1,965 2,242
TOTAL 94,477 100,063 110,344 86,789 71,222

 

Proven and probable reserves (2P) net to DNO

MMboe at yearend 2021 2020 2019 2018 2017
Kurdistan 267.4 295.4 300.0 403.8 411.8
North Sea 54.0 64.4 70.1 - -
Oman - - - - -
TOTAL 321.4  359.9 370.2 403.8 411.8

 

Reporting change effective Q1 2021

The Company historically reported its net production and reserves from licenses governed by PSCs/PSAs on a Company Working Interest (CWI) basis, which was calculated after royalty and included DNO’s additional share of cost oil covering its advances towards the government carried interest. In the Tawke license in Kurdistan, the CWI figures also included production and reserves attributable to the additional three percent of gross license revenues under the August 2017 receivables settlement agreement with the Kurdistan Regional Government (KRG).

Effective Q1 2021, the Company reports its net production and net reserves based on its percentage ownership in the licenses. The main reason for the change is to improve comparability with peer companies.

 

Links

Annual Statement of Reserves 2020 (pdf)

Annual Statement of Reserves 2019 (pdf)

Annual Statement of Reserves 2018 (pdf)

Annual Statement of Reserves 2017 (pdf)