DNO ASA

As of August 15, 2019, the state of Iowa listed DNO on its Iran scrutinized companies list. (https://www.ipers.org/sites/default/files/media/2017%2009%20Iran%20Prohibited%20Companies%20List%2009-30-17.pdf)

DNO ASA, the Norwegian oil and gas operator, today announced the signing of a memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) to conduct a study concerning the development of the Changuleh oil field in western Iran. Changuleh, discovered in 1999 but never developed, is estimated to hold more than 2 billion barrels of oil-in-place. "Iran presents an obvious and exciting next step in expanding DNO's footprint in the region," said DNO's Managing Director Bjørn Dale. "Our low-cost, fast-track development strategy and our fractured carbonate reservoir experience in the Kurdistan region of Iraq can be easily applied and leveraged in Iran," he added. The Company has established a wholly owned subsidiary DNO Iran AS amid preparations to increase its presence in Iran. (DNO Website,  "DNO Signs MoU to Develop Iran's Changuleh Oil Field," 11/16/2016). (http://www.dno.no/en/investor-relations/announcements/2016/dno-signs-mou-to-develop-irans-changuleh-oil-field/) (http://www.dno.no/en/investor-relations/announcements/2016/dno-signs-mou-to-develop-irans-changuleh-oil-field/) (http://www.dno.no/en/investor-relations/announcements/2016/dno-signs-mou-to-develop-irans-changuleh-oil-field/)

As of February 14, 2020, the state of Iowa removed DNO ASA from its Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS%27%20Iran%20Prohibited%20Companies%201Q20.pdf)

National Iranian Oil Company has received a proposal from Norway’s DNO oil and gas operator for the development of Changouleh Oil Field, a major one in western parts of the country. Gholam-Reza Manouchehri, the deputy for development and engineering affairs of NIOC confirmed that DNO’s proposed plan for the development of Changuleh oil field in Lorestan Province had been received. Manouchehri expressed hope that this would lead to an NIOC move to award the project to the Norwegian company. Jeroen Regtien, DNO’s operations director also said that the company had tried to present what he described as an attractive proposal over the development of Changuleh, based on DNO’s existing capabilities. (August 14, 2017). (http://en.nioc.ir/Portal/home/?news/81365/71248/213565/Norways-DNO-Submit-Plan-to-Develop-Changouleh-Field)

In 2018 the U.S. state of Iowa listed DNO ASA on its Iran scrutinized companies list rendering DNO ASA ineligible for investment and/or state contracting.