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Tuesday, 02 December, 2008, 23:10 GMT | more >>

DNO sees reserves tally swell



By Upstream staff 

Norwegian independent DNO International said that its total remaining proved and probable reserves at the end of December stood at 151.8 million barrels, higher than the 127.9 million barrels reported previously.

The company said the increase was due to an adjustment in their working interest share of the Tawke field reserves.

The remaining proved and probable reserves class 4-5 are estimated at 1.5 million barrels and proved and probable class 7 are estimated at 3.5 million barrels, unchanged from previous reports, said DNO.

The total reserves and resources class 1-7 as of 31 December are estimated at 156.8 million barrels.

“We are pleased to note that 2007 was another year with strong increase in reserves at low costs, which is in line with our overall strategy. Our P50 (proved and probable) reserves increased by 72 million barrels at total FD&A costs of approximately 3.5 USD per barrel,” said DNO’s president, Helge Eide.


Friday, 18 April, 2008, 06:42 GMT  | last updated: Friday, 18 April, 2008, 10:11 GMT

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