Norwegian DNO reinstated in Iraq

Photo: www.dno.no

Photo: www.dno.no

The Norwegian oil company DNO International ASA announced Tuesday that Kurdish authorities have agreed to let it resume operations in the self-governed Iraqi region following a two-week suspension.

The Norwegian Oil Company said in a statement that “all issues” with Kurdish oil officials “have now been resolved.”

The suspension stemmed from a regulatory probe by the Oslo Stock Exchange into whether a 2008 DNO deal with Turkey’s Genel Enerj had followed public disclosure laws.

Oslo-based DNO has over the past weeks been in continuous discussions with the KRG (Kurdish Natural Resources).

“All issues with respect to the notice from KRG have now been resolved and DNO is looking forward to continuing its successful cooperation with KRG to the benefit of the Kurdistan Region and all people of Iraq,” writes DNO on its website.

DNO was the first independent Western oil company to secure an oil deal in post-Saddam Iraq, signing a production sharing contract with the Kurds in June 2004 to develop the Tawke field.

Read more about DNO here

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