Norwegian DNO ASA oil and gas completes acquisition of Origo Exploration

DNO ASA is a Norway-based oil and gas operator focused on the Middle East and North Africa.

  
Image used for illustrative purpose. A worker adjusts a valve of an oil pipe at Taq Taq oil field in Arbil, in Iraq's Kurdistan region, August 16, 2014. Picture taken August 16, 2014. REUTERS/Azad Lashkari

Image used for illustrative purpose. A worker adjusts a valve of an oil pipe at Taq Taq oil field in Arbil, in Iraq's Kurdistan region, August 16, 2014. Picture taken August 16, 2014. REUTERS/Azad Lashkari

REUTERS/Azad Lashkari

OSLO, 29th June, 2017 (WAM -- DNO ASA, the Norwegian oil and gas operator, today announced the completion of the acquisition of Origo Exploration Holding AS, a privately-held oil and gas exploration company with a focus offshore Norway and the United Kingdom.

The transaction has been approved by regulatory authorities in both Norway and the United Kingdom.

Rebranded DNO Norge AS, the company is now a wholly-owned, Stavanger-based, subsidiary of DNO.

Following the acquisition, DNO returns to the North Sea with stakes in 11 exploration and appraisal licenses, of which seven are on the Norwegian Continental Shelf and four on the UK Continental Shelf.

DNO ASA is a Norway-based oil and gas operator focused on the Middle East and North Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the company also holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Yemen, Oman, the United Arab Emirates, Tunisia and Somaliland. Its largest shareholder is UAE-based RAK Petroleum.

© Copyright Emirates News Agency (WAM) 2017.

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