DNO completes the purchase of Sval Energy from HITECVISION

Norwegian oil and gas operator DNO completed the acquisition from Svali Energy from Hitecvision.

The $ 1.6 billion enterprise value will increase the existence of DNO in the North Sea, which is $ 450 million in cash (NKR4.48BN).

In March, DNO signed a contract to obtain 100% of Svalgi Energy Group shares.

Procurement is the oil equivalent (BOPD) and proven and probable (2p) reserves from 80,000 barrels to 80,000 barrels per day.

In addition, the company’s conventional resources (2C) are now a total of 316mbu.

With this strategic action, Norway and England are now about 60% of the global production of DNO and about 45% of global resources.

The rest is mainly concentrated in the Kurdistan region of Iraq.

DNO Executive Chairman Bijan Mossavar-Rahmani said: “Svalgi’s energy assets, the Northern Sea operations of DNO, and of course, allowed DNO to develop the North Sea operations and surround the DNO.”

Svaly Energy, the former General Director, will lead the DNO Norge’s management director as a management director.

Several intelligence in the pipeline for continuing field development projects and project approval, DNOs, in the coming years, it was stated to develop northern sea production in the coming years.

In the North Sea, 2p reserves and 2C resources are equal to 15 years of production at the current exit level, added to the company.

The company also said that this was actively committed to the development of additional acquisitions and accelerating the development and monetization of their discoveries in Norway.

Rahmani added: “This compares the majority of the majority of Norwegian oil companies, with simple submarines to existing platforms, to execute this task in other forms.”

Last week, DNO collected $ 400 million via DNO hybrid bonds.

DNO in Kurdistan, about 80,000+ of the modest license, maintained production with minimal new investment. 75% of the license holds interest and operator.

Its Côte d’Ivoire gas assets consistently produce more than 3,000 networks.

DNO plans four development wells and an exploration well in 2025-26.

“DNO completes the purchase of Svali Energy from HITECVISION” First and published Marine technologyA global brand.