DNO has confirmed that it has temporarily shut down production and drilling operations on the Tawke license in the Kurdistan region of Iraq, and evacuated its staff, as a result of the Iran-Israel-US war.
In a statement contained in its Annual Report 2025, the company said it continues to monitor developments closely to assess when it can safely and securely resume operations.
Regarding its operation in the Region, the Annual Report stated:
Gross production from the DNO operated Tawke license, containing the Tawke and Peshkabir fields, averaged 70,092 boepd during 2025 (78,615 boepd in 2024). The Tawke field contributed 27,452 boepd (29,153 boepd in 2024) and the Peshkabir field contributed 42,641 boepd (49,462 boepd in 2024). DNO brought no new wells onstream on the Tawke license in 2025. Notwithstanding, field potential was kept at a high level by an active program of workovers and interventions, and by gas injection into the Tawke field. The year-on-year decline was primarily due to damaging drone strikes in July 2025, which depressed production capacity well into the fourth quarter. In December 2025, DNO announced that it was restarting Tawke license drilling.
To ensure predictable cash to support its ongoing spend, DNO continued to sell its oil on a cash-and-carry basis under existing contracts with local buyers at a price in the low USD 30s per
barrel.
DNO holds a 75 percent operated interest in the Tawke license with partner Genel Energy International Limited holding the remaining 25 percent.
On DNO’s other Kurdistan license, Baeshiqa, no production or drilling activities took place in 2025 (5 boepd from limited well testing in 2024). Baeshiqa does not represent any reserves in
DNO’s books, and 2C resources are kept at 38.1 MMboe, unchanged from yearend 2024. The Company is minimizing running costs while determining its future work program.
