DNO ASA, the Norwegian based oil and gas exploration and production company, today announces the appointment of Ivar Brandvold, into the newly created position of Chief Operating Officer in DNO ASA.
Mr Brandvold (aged 51) joins DNO from Norsk Hydro ASA, where he currently holds the position as Head of Drilling, with responsibility for the global drilling operations of the company. Mr Brandvold has broad experience from several senior positions in Norsk Hydro, including exploration, drilling, technology development and production in both Norway and international assignments.
As Chief Operating Officer, he will oversee all upstream activities including the planning and execution of DNO's exploration and development drilling across its operations in Norway, the Middle East and Africa. Mr Brandvold will join DNO's Corporate Management Team, working with senior management in all aspects of DNO's upstream activities, and he will report to Helge Eide, Managing Director and CEO of DNO ASA.
Commenting on the appointment, Helge Eide said:
"We are delighted that Ivar has agreed to join DNO at such an exciting time in the Company's development. DNO is planning to drill
53 wells in 2007 across its worldwide operations, and we are looking forward to his input and expertise as our growth strategy is executed."
Contacts:
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DNO ASA (Norway) |
(+47) 23 23 84 80 |
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Helge Eide |
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DNO ASA (UK) |
(+44) 20 78 39 77 55 |
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Rob Arnott |
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Buchanan Communications |
(+44) 20 74 66 50 00 |
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Ben Willey |
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Notes to the Editors:
DNO ASA is an exploration and production company with activities in Norway, Middle East and Africa.
The Company holds reserves and resources of 151 million barrels of oil equivalents.
Average working interest production for 2006 totalled 14,831 bopd, of which 13,800 bopd was from its producing assets in the Yemen. The balance of the production was from Norway.
The current oil production to the Company is approximately 12,600 bopd, which is planned to be increased to approximately 26,000 bopd by year end.
DNO is quoted on the Oslo Stock Exchange, ticker DNO, and is currently capitalised at approximately NOK 10 billion.