DNO International ASA, the Norwegian oil and gas company, released its Annual Statement of Reserves setting total remaining proved and probable (2P/P50) reserves at 520.3 million barrels of oil equivalent (MMboe) on a company working interest (CWI) basis as at yearend 2012. The comparable figures for yearend 2011, yearend 2010 and yearend 2009 were 371.9 MMboe, 194.2 MMboe and 149.4 MMboe, respectively.

"I am hard pressed to name other international exploration and production companies of our size with such a record of year-on-year reserves growth over this period," said Bijan Mossavar-Rahmani, Executive Chairman of DNO International.

The 40 percent increase in 2012 was driven principally by upward revisions at the Tawke field in the Kurdistan Region of Iraq and reserve additions from the merger of RAK Petroleum PCL's operating subsidiaries into DNO International.

Tags: DNO International