Norway’s DNO buys into Cote d’Ivoire
DNO is diversifying beyond its usual regions of operation and plans further expansion
Oslo-listed RAK Petroleum has agreed to transfer its 100pc ownership of subsidiary Mondoil Enterprises to Norwegian operator DNO for $117.25mn. Mondoil in turn has a 33pc indirect interest in privately held and Abidjan-based Foxtrot International, which holds stakes in two Cote d’Ivoire blocks, CI-27 and CI-12. Foxtrot International operates Block CI-27 with a 27.27pc interest, and DNO’s indirect interest will equate to 9.09pc. The block contains “the country’s largest reserves of gas”, according to DNO, and its four in-production offshore fields and two fixed platforms together account for three-quarters of domestic gas needs. The four fields comprise Foxtrot—the first to start production i
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind