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