DNO: Record Production from Block 8, Offshore Oman

Norway-based DNO International ASA announced today that production from Block 8 offshore the Sultanate of Oman has climbed to a record daily rate of 20,000 barrels of oil and condensate and 60 million cubic feet of gas following completion of a two-well drilling program in the West Bukha field.

These rates represent a near tripling of oil and condensate production and a near doubling of gas production from the block. The wells have reached the limits of the existing onshore processing facilities and have been choked back.

Block 8, containing Oman’s only offshore producing fields, is one of seven Middle East North Africa licenses acquired by DNO International through the merger with RAK Petroleum PCL earlier this year. Two other acquired blocks are located in adjacent waters offshore the Emirate of Ras Al Khaimah.

“With the success of these wells we are taking a fresh look at the West Bukha and Bukha fields and our other offshore assets and believe there is further potential to grow production and reserves in this area,” said Bijan Mossavar-Rahmani, DNO International’s Executive Chairman.

The Noble Roy Rhodes rig will now be moved to commence drilling an appraisal well in the Bukha gas-condensate field.

DNO International holds a 50 percent interest in and operates Block 8 containing the West Bukha and Bukha fields and their respective platforms. Korea’s LG International holds the remaining 50 percent interest.

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Press Release, November 21, 2012