DNO Says Keen to Attend Iran Investment Projects

He made the remarks in an interview with Shana on the sidelines of a ceremony held to celebrate inking of a Memorandum of Understanding between DNO ASA and the National Iranian Oil Company (NIOC) on Wednesday.

Dale said DNO ASA plans to develop its presence in Iran by establishing a subsidiary, DNO Iran AS.

The official referred to the similarities between DNO experience in other oil fields of the region and the Changuleh oil field and said that DNO can develop the oil field with low-cost with fast-track development strategy.

DNO has experience in the Kurdistan region of Iraq and it is in charge of development of Omani part of Hengam oil field in the Strait of Hormuz, he added.

Dale noted that DNO is ready to cooperate with Iran in the Hengam oil field.

Speaking about the new models of oil contracts, known as IPC, he expressed interest to see the final draft of the contract.

Dale voiced hope that IPC prepares the ground for DNO work in Iran.

Norwegian oil and gas operator DNO ASA inked a Memorandum of Understanding with the National Iranian Oil Company (NIOC) on Wednesday to develop Iran’s Changuleh oil field.

According to the cooperation document, DNO will conduct a study on development of the Changuleh oil field west of Iran.

The Changuleh field discovered in 1999 but never developed. It is estimated to hold more than 2 Bbbl of oil-in-place.