The Oslo-listed indepdendent’s first positive quarterly result for four years, compared with a Nkr20 million loss a year earlier, was aided by tax income of Nkr181 million under Norway’s generous fiscal regime that allows companies to claim 78% of their exploration costs.
Det Norske also more than halved its exploration expenses to Nkr110 million, compared with Nkr234 million a year earlier, and cut production costs, enabling it to narrow its operating loss to Nkr101 million from Nkr251 million in the same period of 2013.
Its
