Oslo, 21 November 2012 -- DNO International ASA ("DNO International"), the Norwegian oil and gas company, announced today that production from Block 8 offshore the Sultanate of Oman has climbed to a record daily rate of 20,000 barrels of oil and condensate and 60 million cubic feet of gas following completion of a two-well drilling program in the West Bukha field.
These rates represent a near tripling of oil and condensate production and a near doubling of gas production from the block. The wells have reached the limits of the existing onshore processing facilities and have been choked back.
Block 8, containing Oman's only offshore producing fields, is one of seven Middle East North Africa licenses acquired by DNO International through the merger with RAK Petroleum PCL earlier this year. Two other acquired blocks are located in adjacent waters offshore the Emirate of Ras Al Khaimah.
"With the success of these wells we are taking a fresh look at the West Bukha and Bukha fields and our other offshore assets and believe there is further potential to grow production and reserves in this area," said Bijan Mossavar-Rahmani, DNO International's Executive Chairman.
The Noble Roy Rhodes rig will now be moved to commence drilling an appraisal well in the Bukha gas-condensate field.
DNO International holds a 50 percent interest in and operates Block 8 containing the West Bukha and Bukha fields and their respective platforms. Korea's LG International holds the remaining 50 percent interest.
--- DNO International ASA is an Oslo-listed, Middle East and North Africa focused, oil and gas company holding stakes in 17 licenses in various stages of exploration, development and production both onshore and offshore in the Kurdistan Region of Iraq, the Republic of Yemen, the Sultanate of Oman, the United Arab Emirates and the Tunisian Republic. http://www.dno.no ---
Oslo, 21 November 2012
DNO International ASA
Queries: Tom Bratlie (email@example.com or tel: +47 905 21 904
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)