DNO acquires Sval from HitecVision

DNO acquired Sval Energi Group from HitecVision for a cash consideration of $450 million. The acquired portfolio comprises 16 producing fields in Norway, quadrupling DNO’s North Sea production to 80,000 barrels of oil equivalent per day (boepd).

Supported by ongoing field development projects with multiple discoveries currently being matured for project sanction, the combined North Sea 2P reserves and 2C resources equal 15 years of production at the current run rate.

In Kurdistan, DNO has maintained production from its flagship Tawke license (75% and operator) at about 80,000 boepd (60,000 boepd net working interest) with minimal new investment. Its Côte d’Ivoire gas assets steadily produce over 3,000 boepd net to DNO. Four development wells and one exploration well are planned in 2025-26.