Tue 16-01-2018 19:48 PM

10 awards for DNO in Norway oil licencing round

OSLO, 16th January 2018 (WAM) -- Oslo, 16 January 2018 - DNO ASA, the Norwegian oil and gas operator, today announced that its wholly-owned subsidiary DNO Norge AS has been awarded participation in 10 exploration licences under Norway's Awards in Predefined Areas (APA) 2017 licensing round.

Of the 10 licences, seven are in the North Sea, one in the Norwegian Sea and two in the Barents Sea. Prior to today's announcement, DNO held interests in 11 licences offshore Norway and the United Kingdom, of which eight are on the Norwegian Continental Shelf and three on the UK Continental Shelf.

DNO’s largest shareholder is Ra’s al-Khaimah Petroleum, which owns 40.45 per cent of its shares. It is focussed on the Middle East-North Africa region and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, Oman, Somaliland, Tunisia, Yemen and the United Kingdom.

WAM/Hassan Bashir