DNO enters deal with Orlen, aims to strengthen North Sea portfolio

Norwegian oil and gas operator DNO ASA has entered additional deals to rework its North Sea portfolio.

Through all-cash transactions, the values for which were not disclosed, Orlen Upstream Norway AS agreed to acquire DNO’s 7.604% stake in the Ekofisk Previously Produced Fields (PPF) project in license PL018B and PL018F.

From Orlen, DNO will acquire a 20% interest in license PL1135, which contains the Cassio prospect, as well as a 0.8272% interest in Verdande field.

DNO will retain its 7.604% in PL018 containing producing fields Ekofisk, Eldfisk, and Embla as well as a share in the Tor Unit.

Upon closing of the deal, subject to government approvals, the deals would bring DNO’s total interest in the Verdande Unit containing five licenses to 14.8251%, including 3.5% from the recently announced asset swap with Aker BP.

Verdande, in the Norne area, is currently in advanced development and scheduled to start production later this year.

Cassio lies directly north of DNO-operated PL1086 (50%), which includes the Othello discovery. An exploration well on Cassio is expected in late 2026.

DNO executive chairman Bijan Mossavar-Rahmani said the company has chosen to deploy capital expenditure “in ways that play to our strengths, namely exploration and rapid-fire development of our existing discoveries.”