Friday 21 February 2014

Oil producer DNO announces record revenues | The National

Oil producer DNO announces record revenues | The National:



"DNO International, an Iraq-focused oil producer with Ras Al Khaimah-based ownership, announced record operating revenues of Dh1.8 billion against an operating cash flow of Dh1.05bn.



Operating profit stood at Dh350.8 million, with the company citing one-off charges hindering the delivery of higher profit.



“2013 was a banner year for the company marked by several milestones, including great success from horizontal drilling at the Tawke field in Iraqi Kurdistan,” said Bijan Mossavar-Rahmani, DNO’s executive chairman. “We have an aggressive work programme planned for 2014 to drive up production and delivery capacity in existing fields while testing exploration prospects across the portfolio.”"



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