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 North Sea regions. 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, the United Kingdom and Yemen.
The company's growth comes through smart exploration, cost effective and fast track development, efficient operating techniques and strategic acquisitions.
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 Origo acquisition in 2018 and the Norway's Awards in Predefined Areas licensing round in January 2019, DNO ASA returns to the North Sea with stakes currently held in 40 exploration and appraisal licenses, of which 39 are on the Norwegian Continental Shelf and 1 on the UK Continental Shelf.
In April 2018, DNO ASA acquired 28.23 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 Netherlands, the United Kingdom and Ireland. DNO has since acquired 100 percent of the Faroe shares (subject to stamping and registration). The integration of the Faroe and DNO organisations is well underway; the new combined entity has over 1,100 employees and offices in Oslo, Stavanger, Erbil, Dubai, London, Aberdeen and Great Yarmouth.
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.
03.27.2019DNO Releases 2018 Annual Report and Accounts
03.15.2019DNO Shares Traded Ex-Dividend
02.19.2019Mandatory Notification of Trade
02.11.2019DNO ASA: Updated Financial Calendar for 2019
02.11.2019DNO Announces 100 Percent Reserves Replacement in 2018