ڕاپۆرت
The total oil production in the Kurdistan Region during the first quarter of 2026 reached 52,800 barrels of oil per day.
بڵاوکراوەتەوە لە : 8 ئایار 2026
قەبارەی دەقەکان
قەبارەی دەقەکان
Oil Production at the Tawke License Fell by More Than 30%
Norwegian oil company DNO:
The total oil production in the Kurdistan Region during the first quarter of 2026 amounted to 52,800 barrels per day (bpd).
In the fourth quarter of 2025, total production stood at 77,268 bpd, meaning a decline of 32%, equivalent to 24,468 barrels per day.
Compared to the same period last year — the first quarter of 2025 — production declined by 36%, or 29,281 barrels per day, as total production then had reached 82,081 bpd.
The selling price of Kurdistan Region crude oil averaged $31.0 per barrel in Q1 2026, compared with $31.6 in Q4 2025 and $34.7 in Q1 2025.
Two drilled wells completed in December 2025 and January 2026 were brought online at the Tawke field at the beginning of the first quarter. However, following the start of U.S. and Israeli airstrikes against Iran, the company temporarily suspended production and drilling operations in Kurdistan as a precautionary measure.
On April 9, 2026, the company resumed field operations, including workovers of existing wells and restarting the previously announced eight-well drilling campaign.
On May 7, 2026, in Oslo, the capital of Norway, DNO ASA — a Norwegian oil and gas company operating in the North Sea, the Kurdistan Region, and West Africa — published the final financial and operational results for the first quarter of 2026.
In the Kurdistan Region, the company produces oil only in the Tawke and Peshkabir oil fields, known collectively as the Tawke License. Within the Tawke License, DNO owns a 75% stake and serves as operator, while Genel Energy holds the remaining 25%.
At the same time, in the Baeshiqa License, DNO holds a 64% operating stake alongside partners Turkish Energy Company (TEC) with 16% and the Kurdistan Regional Government with 20%. However, this field has not yet reached commercial production.
The company released updated information regarding production, sales volumes, prices, and other selected data for Q1 2026.
Production Volumes (barrels of oil equivalent per day – boepd)
1. Production Summary
As shown in Graph (1), the production summary across DNO’s operational areas — the North Sea, the Kurdistan Region, and West Africa — indicates that in the Kurdistan Region alone, average production in Q1 2026 reached 39,600 barrels per day.
In comparison, production in Q4 2025 stood at 57,951 bpd, representing a decline of 32%, or 18,351 bpd.
Compared with the same period in 2025, average production declined by 36%, or 21,961 bpd, as production in Q1 2025 had been 61,561 bpd.
2. Sales Volumes
According to Graph (2), oil sales from DNO’s operations in the North Sea and the Kurdistan Region show that sales in the Kurdistan Region during Q1 2026 amounted to 14,753 barrels per day.
In Q4 2025, sales averaged 20,019 bpd, marking a decline of 26%, or 5,266 bpd.
Compared with Q1 2025, sales fell by 20%, or 3,711 bpd, as sales during that period stood at 18,646 bpd.
3. Total Gross Production
Graph (3) illustrates total gross oil production from DNO’s operations in the North Sea and the Kurdistan Region.
In the Kurdistan Region, total production during Q1 2026 averaged 52,800 barrels per day.
This compares with 77,268 bpd in Q4 2025, a decline of 32%, or 24,468 bpd.
Compared with Q1 2025, production declined by 36%, or 29,281 bpd, as total production during that period was 82,081 bpd.
Realized Prices (USD per barrel of oil equivalent)
1. Kurdistan Region
Oil:
$31.0 per barrel in Q1 2026
$31.6 per barrel in Q4 2025
$34.7 per barrel in Q1 2025
2. North Sea
Oil
$87.0 per barrel in Q1 2026
$63.6 per barrel in Q4 2025
$77.9 per barrel in Q1 2025
Gas
81.0 in Q1 2026
60.5 in Q4 2025
91.5 in Q1 2025
Natural Gas Liquids (NGL)
36.2 in Q1 2026
38.9 in Q4 2025
49.8 in Q1 2025
Latest Developments in the Kurdistan Region
Two drilled wells completed in December 2025 and January 2026 were brought online at the beginning of the first quarter at the Tawke field.
However, immediately after the launch of U.S. and Israeli airstrikes against Iran on February 28, 2026, DNO temporarily suspended production and drilling operations in Kurdistan as a safety measure.
On April 9, 2026, the company resumed field activities, including the rehabilitation of older wells and restarting the previously announced eight-well drilling campaign. These measures are part of preparations to increase production again at the Tawke and Peshkabir fields.
Other Cash Flow Highlights
DNO’s share of oil production from the Tawke License during the quarter was sold to a domestic buyer. The company continued receiving all payments in advance before delivery of the crude oil.
During the first quarter, DNO distributed a dividend of NOK 0.375 per share, totaling approximately $38.5 million, equivalent to NOK 1.50 per share on an annualized basis.
The company also paid $64 million in taxes in Norway related to installment payments for taxable profits for 2025.
Source
DNO Official Announcement
