DNO - increase in oil production in the fourth quarter

Oil production for the individual geographical units for December, the fourth quarter and for the year 2002 was as follows (barrels per day):
 
 
 
December 2002
4th quarter 2002
2002
UK
         4,226
        4,273
           4,780
NORWAY
         5,801
        6,191
           6,868
YEMEN
        13,548
       12,768
          10,742
 
 
 
 
IN ALL
        23,575
       23,232
          22,390
 
 
The increase in oil production in the fourth quarter is due to a considerable increase in production from the Tasour field in Yemen after a new production well came onstream in October. Together with a slight increase in oil production from the Sharyoof field, this gave the company a record high production of more than 13,500 barrels per day (before tax) from Yemen in the two last months of the year. Drilling activities in Yemen continue in the first quarter of 2003, and an additional production well in the Tasour field is scheduled to come onstream in about a month.
 
Oil production from the UK shelf is expected to increase by approximately 5,000 barrels per day to more than 9,000 barrels per day in January 2003, as the company has now concluded the agreement for the transfer of the Thistle field.
 
The company is very satisfied with the average oil production for the DNO group exceeding 22,390 barrels per day in 2002, which is approximately 15 per cent higher than expected for the year.