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(WO) — DNO ASA reported robust third-quarter 2025 outcomes, highlighted by document income of $547 million and an working revenue of $222 million, each greater than double the earlier quarter. Web manufacturing rose to 115,400 boed, pushed by larger output from the North Sea and Kurdistan.
Manufacturing from the North Sea averaged 77,300 boed, reflecting contributions from newly acquired Sval Energi property and the startup of Andvare, with Verdande anticipated to comply with this month. DNO expects to exit 2025 with North Sea output approaching 90,000 boed and Kurdistan close to 60,000 boed, supported by gross operated Tawke license manufacturing of 80,000 boed.
The corporate additionally introduced an accelerated growth schedule for its Kjøttkake discovery on the Norwegian Continental Shelf, focusing on first oil in early 2028—simply three years from discovery. DNO (40% and operator) is partnering with Aker BP, leveraging its provider alliance and tools stock to satisfy the fast-track timeline. “By exhibiting how oil and fuel discoveries could be placed on manufacturing in document time, we hope to usher in a brand new period on the Norwegian Continental Shelf,” stated Govt Chairman Bijan Mossavar-Rahmani.
Along with Kjøttkake, DNO is advancing 4 different North Sea developments—Dvalin North, Symra, Bestla, and Berling—scheduled for startup between 2026 and 2029. The corporate’s Vidsyn discovery in July added to a complete of 34 MMboe of internet recoverable assets found in 2025, with three extra exploration wells underway.
In Kurdistan, manufacturing on the Tawke license averaged 46,600 boed in Q3, down after July drone harm however now restored to about 75,000 boed. Exports by way of the Iraq-Türkiye Pipeline resumed in late September after a 2.5-year halt, and drilling at Tawke and Peshkabir is about to restart by yearend.
To strengthen liquidity, DNO is finalizing further prefinancing services, which is able to deliver whole commitments to over $900 million, supporting its aggressive growth portfolio. The Board additionally accredited a dividend of NOK 0.375 per share, sustaining an annualized price of NOK 1.50 per share.
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