DNO today announced completion of appraisal/side track wells that both confirmed the 2022 Ofelia oil and gas discovery and led to a new gas discovery in the overlying Kyrre formation in license PL929 in the Norwegian North Sea. Combined recoverable volumes are estimated by the operator to range between 27 and 52 million barrels of oil equivalent (MMboe).

Ofelia/Kyrre is a candidate for a fast track, low cost development tie-back to the Gjøa platform located 23 kilometers to the south. Gjøa is operated by Neptune Energy Norge AS, which is also operator of license PL929 with a 40 percent interest. Other partners include Wintershall Dea Norge AS (20 percent), Pandion Energy AS (20 percent), DNO Norge AS (10 percent) and Aker BP ASA (10 percent).

As one of the largest acreage holders in the prospective Troll-Gjøa area, DNO has already participated in six discoveries in this area with combined recoverable resources totaling 100 MMboe net to DNO since 2021.

The Company plans to continue its extensive exploration and appraisal activity in Troll-Gjøa area in 2024.

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