2020 operational highlights Net production of 95,100 barrels of oil equivalent per day (boepd) across portfolio in 2020 (93,000 boepd in Q4), notwithstanding reduced spending to preserve cash following the market turmoil triggered by…
2020 financial highlights 2020 revenues of USD 615 million (USD 174 million in Q4) down about one-third from 2019 following oil and gas price crash early in the year Lower revenues and non-cash impairments led to net loss of USD 286…
2021 outlook DNO will remain a growth-oriented oil and gas exploration and production company While continuing to conduct business in a socially and environmentally responsible manner Among most active explorers in Norway,…
Historical production and revenue trends Net production Revenue from oil and gas boepd USD million 120 000 1 200 100 000 1 000 80 000 800 60 000 600 40 000 400 20 000 200 0 0 Page 6
Reserves and resources overview 2P Reserves Replacement Ratio 2P Reserves 2C Contingent Resources 159% Norway 63 Kurdistan 27 Kurdistan 27 UK 1 Yemen 5 Yemen 5 Five year average 73% 64% 332 152 62% mmboe mmboe 18%…
2020 Kurdistan operations Turkey Iran Tawke field Syria Peshkabir field Tawke license Kurdistan region of Iraq Map legend DNO licenses Major oil pipelines Mosul Erbil Iraq Baeshiqa license PRODUCTION FIELDS…
Promising discovery in Baeshiqa license Zartik-1 exploration well testing completed, confirming hydrocarbons to surface from from several Jurassic zones, with one zone flowing naturally at rates averaging over 2,000 bopd of medium…
Tawke license delivers in difficult year Achieved gross production of 110,300 bopd despite capex cuts and Covid constraints By mid-December 2020 the Tawke license passed the milestone of 350 million barrels of oil produced, including…
DNO licenses DNO producing fields 2020 North Sea operations DNO projects for sanction review Marulk Alve Gjk Iris/Hades Syrah/Orion East Foinaven Rver Nord Brage Vilje Brasse Norway Ringhorne East Enoch…
New awards and high grading improve portfolio DNO holds 86 licenses in Norway (23 operated) including 10 licenses from the January 2021 APA awards DNO also holds 16 licenses in the UK, including four licenses awarded in the fall…
2021-2022 exploration 11 drilling in core areas 2 NORWEGIAN SEA 12 3 Gross Name Type Volume Range 2021 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1 Rver Nord Discovery 45-70 Discovery 2 Black Vulture Appraisal well 10-40 Firm well 3…
Recent commercial discoveries Rver Nord is a recently announced near-field discovery west of Troll with estimated 45-70 million barrels of oil equivalent (mmboe) in gross recoverable resources 10 km Tie-back to Troll infrastructure…
2021 high potential wells UK NORWAY Edinburgh one of the largest undrilled structures in the North Sea Pre-drill estimate of 100-675 mmboe in prospective resources Jack-up drilling rig Straddles Norway/UK border DNO pushed…
Multiple discoveries considered for project sanction in 2022 Brasse (DNO 50 percent and operator) development moving to concept selection with either Brage or Oseberg as host platform: 17 mmboe net to DNO (2P) Iris/Hades (DNO 20…
Financial summary USD million Q4 2020 Q3 2020 Q4 2019 2020 2019 Revenues 174.2 163.0 274.6 614.9 971.4 Production costs -51.8 -48.9 -66.0 -217.3 -236.8 Movement in overlift/underlift -7.6 -27.1 3.2 -11.3 7.2 Depreciation, depletion…
Ramping up operational spend Total operational spend Planned operational spend of USD 700 million in 2021, an increase USD million of USD 189 million from 2020, driven by ramp up of development Capex Expex Opex Abex drilling in…
2020 cash flow Solid cash flow from operations of USD 236 million North Sea tax refunds contributed another USD 236 million to cash flow Payment of USD 242 million towards debt retirement, interest payments and share buybacks…
Capital structure Cash deposits Net interest-bearing debt Equity ratio USD million USD million Percent 800 600 100 729 513 700 500 473 90 80 600 400 70 486 477 62 61 500 300 430 60 400 200 50 300 40 36 100 31 30 200…
Important notice This presentation (the Presentation) has been prepared and delivered by DNO ASA (DNO or the Company). Copyright of all published material including photographs, drawings and images in this document remains vested in…
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