DNO Oil Firm Sees Production Plummet to 273 Barrels Per Day Amid Regional Tensions

Norwegian oil and gas company DNO ASA has reported a sharp decline in production at its Kurdistan Region sites during the second quarter of this year.

The company's net production averaged just 273 barrels of oil equivalent per day (boepd) in the second quarter, compared to 39,600 boepd in the first quarter and 56,070 boepd compared to the same period last year.

The decline is attributed to a temporary suspension of operations following the outbreak of the US-Iran war in February. DNO suspended production on February 28 as a precaution and resumed operations on April 9, albeit in a limited fashion.

The company warned that the pace of recovery would depend on the performance of wells and facilities that had been shut down for an extended period, as well as the wider security situation in the region.