Kurdistan Operations Update

27 Mar 2023 07:00 CEST

Oslo, 27 March 2023 - DNO ASA, the Norwegian oil and gas operator, today
announced that it has been instructed by the Kurdistan Regional Government to
temporarily cease deliveries of oil to the Iraq-Turkey pipeline for export,
following an arbitration ruling in favor of Iraq against Turkey and its state-
owned pipeline operator BOTAS for transporting Kurdish oil without prior
approval from Baghdad. Details of the ruling have not been released.

DNO began diverting oil production from its operated Kurdistan fields to storage
tanks on 25 March 2023; these tanks can accommodate several days' production
from the Tawke and Peshkabir fields. DNO notes from public reports that
authorities in Ankara, Baghdad and Erbil are in discussion to reach agreements
that will allow oil exports to resume through the pipeline to the port of Ceyhan
on the Mediterranean. Prior to the shutdown, the pipeline carried some 400,000
barrels a day of Kurdish oil and another 70,000 barrels a day of Iraqi oil to
global markets.

-

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

-

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the
Company holds stakes in onshore and offshore licenses at various stages of
exploration, development and production in the Kurdistan region of Iraq, Norway,
the United Kingdom, Côte d'Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site