Norway’s DNO plans 4 more oil fields in North Sea as north Iraq output declines

AI Summary

Norway’s DNO has announced plans for four new oil fields in the North Sea as production in northern Iraq diminishes. This expansion indicates a strategic shift in oil exploration to adapt to geopolitical changes.

Norway’s DNO plans to add four North Sea oil fields to its upstream operations by 2029, while production and investments in northern Iraq will be lower than planned in 2026 after fields were temporarily halted when the US-Iran war started, the company said in a May 7 earnings statement. North Sea net production soared in ...