Kurdistan region of Iraq




Participating interest



Baeshiqa PSC Onshore Development 64% DNO TEC, KRG
Tawke PSC Onshore Oil Exploration, Appraisal, Development, Production 75% DNO Genel Energy International Ltd.

Tawke license

Gross production from the DNO operated Tawke license, containing the Tawke and Peshkabir fields, averaged 46,276 bopd during 2023 (107,101 bopd in 2022). The Tawke field contributed 26,577 bopd (45,065 bopd in 2022) and the Peshkabir field contributed 19,699 bopd (62,037 bopd in 2022).

The production decline from 2022 was due to the closure of the ITP export route from 25 March 2023, which led to the shut-in of both fields. Production was resumed at the Tawke field in July 2023, followed by the Peshkabir field in October 2023. At yearend, gross production had largely recovered and was averaging 80,000 boepd. The Company’s net entitlement share of production in the second half of 2023 was sold at prices in the low-to-mid USD 30s per barrel on a cash and carry basis and transported by traders by road tanker or pipeline to local refineries. In response to the closure of the ITP, DNO cut operational spend by some 65 percent from pre-pipeline shutdown levels as drilling activity was curtailed and staffing levels reduced.

DNO holds a 75 percent operated interest in the Tawke license with partner Genel Energy International Limited holding the remaining 25 percent.

Baeshiqa license

Gross operated production at the Baeshiqa license averaged 224 bopd in 2023 (536 bopd in 2022). Due to the closure of the export pipeline, there was no production from the license in the second half of 2023. DNO holds a 64 percent operated interest in the Baeshiqa license (80 percent paying interest) with partners being Turkish Energy Company Limited (TEC) with a 16 percent interest (20 percent paying interest) and Kurdistan Regional Government (KRG) with a 20 percent carried interest.