DNO acquires stakes in five oil and gas fields

DNO ASA, the Norwegian oil and gas operator, today announced the completion of the acquisition of stakes in five oil and gas fields, including an operatorship, in the Norne area in the Norwegian Sea from Vår Energi ASA. Following closing, DNO’s wholly-owned subsidiary DNO Norge AS holds interests in all producing and under development fields in the greater Norne area, making it a core area for the Company on the Norwegian Continental Shelf.

The transaction includes interests in four producing fields: Norne (6.9 percent), Skuld (11.5 percent), Urd (11.5 percent) and Marulk (20 percent and operatorship), plus the ongoing Verdande development (10 percent). Prior to the transaction, DNO held interests in Alve (32 percent), Marulk (17 percent), and Andvare development (32 percent) in the Norne area.

Meanwhile, DNO continues its active exploration in the North Sea with the ongoing drilling of the combined Heisenberg appraisal and Angel exploration well, followed by Ringand and Falstaff, which are expected to spud in September.