RAK Petroleum plc holds 40.45 percent of DNO ASA.
DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the North Sea. Founded in 1971 and listed on the Oslo Børs since 1981, 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, Yemen and the United Kingdom.
The company's growth comes through smart exploration, cost effective and fast track development, efficient operating techniques and strategic acquisitions. DNO ASA has more than 900 employees and contractors throughout its operations.
In June 2017, DNO ASA acquired Origo Exploration Holding AS, a privately-held oil and gas exploration company with a focus on offshore Norway and the United Kingdom. Origo was rebranded DNO Norge AS and is a wholly-owned, Stavanger-based, subsidiary of DNO ASA. Following the acquisition, DNO ASA returns to the North Sea with stakes currently held in 19 exploration and appraisal licenses, of which 16 are on the Norwegian Continental Shelf and three on the UK Continental Shelf.
In April 2018, DNO ASA acquired 28.71 percent of the outstanding shares in Faroe Petroleum, an independent oil and gas company which has, through successive licence applications and acquisitions, built a substantial and diversified portfolio of exploration, appraisal, production and development opportunities in Norway, the United Kingdom and Ireland.
In July 2018, DNO ASA subscribed to 5.65 percent of the outstanding shares in Oslo-listed Panoro Energy ASA. This share subscription followed a transaction in which DNO sold its Tunisia subsidiary, DNO Tunisia AS, to Panoro as the Company continues its divestment of non-core assets and focuses on expanding its operations in the Kurdistan region of Iraq and offshore Norway.
RAK Petroleum plc’s Executive Chairman, Bijan Mossavar-Rahmani, is also Executive Chairman of the Board of Directors of DNO ASA.
12.05.2018DNO Statement on Faroe/Equinor Norway Asset Swap
11.26.2018DNO to make cash offer for all shares of Faroe Petroleum plc
11.01.2018DNO Reports Robust Third Quarter 2018 Results
10.09.2018DNO Operations Update: Peshkabir Production Pushes 50,000 bopd
09.13.2018Shareholders Approve DNO Dividend Distribution