Norway’s DNO signs development deal for western Iran

Norwegian operator DNO ASA has signed a memorandum of understanding with National Iranian Oil Co. to conduct a development study for Changuleh oil field. The field—which was discovered in 1999 but yet to be developed—is thought to contain more than 2 billion bbl of oil in place.

DNO managing director Bjorn Dale cited the operator’s fractured carbonate reservoir experience in the Kurdistan region of Iraq as an easily applied “low-cost, fast-track development stategy” for the region.

DNO has established wholly owned subsidiary DNO Iran AS in preparations to increase its presence in Iran.