Business
DNO Brings Forward Norway Production Through Multi-Asset Equinor Swap
Oslo, 16 March 2026 – DNO ASA, the Norwegian oil and gas operator, today announced a non-cash swap of Norwegian Continental Shelf assets with Equinor Energy AS covering DNO’s stakes in four non-core discoveries in exchange for interests in the Kvitebjørn area in the Northern North Sea. The Equinor swap follows other recent transactions designed to increase near- to medium-term production and cash flow. Under the agreement, DNO will acquire a 19 percent interest in Atlantis and a 10 percent inter
About this update from Equinor Asa
[{"type":"image","alt":"DNO ASA","displaySize":"","headline":null,"caption":"DNO ASA","className":"","disableSlideshowImg":false,"size":{"original":{"width":154,"height":95,"url":"https://media.zenfs.com/en/globenewswire.com/8fe0feabaa3f9e58888b63c9b8bf228f"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/QMUVwz2XnCuGRaZvDAGYAw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIxMDtoPTEzMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/8fe0feabaa3f9e58888b63c9b8bf228f","width":154,"height":95},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/QMUVwz2XnCuGRaZvDAGYAw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIxMDtoPTEzMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/8fe0feabaa3f9e58888b63c9b8bf228f","width":154,"height":95}},"lazy":false},{"type":"text","content":"Oslo, 16 March 2026 – DNO ASA, the Norwegian oil and gas operator, today announced a non-cash swap of Norwegian Continental Shelf assets with Equinor Energy AS covering DNO’s stakes in four non-core discoveries in exchange for interests in the Kvitebjørn area in the Northern North Sea. The Equinor swap follows other recent transactions designed to increase near- to medium-term production and cash flow.","length":405,"tagName":"p"},{"type":"text","content":"Under the agreement, DNO will acquire a 19 percent interest in Atlantis and a 10 percent interest in Afrodite, two gas condensate discoveries near the Kvitebjørn field. All three assets continue to be operated by Equinor. DNO already holds a 19 percent interest in Kvitebjørn and 30 percent interest in the nearby Carmen discovery and is expanding its footprint in this new core area.","length":384,"tagName":"p"},{"type":"text","content":"“DNO has a need for speed in Norway,” said DNO Executive Chairman Bijan Mossavar-Rahmani. “We are transforming our portfolio to access barrels sooner rather than later,” he explained, adding, “We acquire production, swap some of our discoveries for others that have been greenlighted for development and then push hard to complete them.”","length":337,"tagName":"p"},{"type":"text","content":"One of the largest undeveloped discoveries in Norway, Atlantis is moving crisply to final investment decision early next year, with production expected to start in late 2029 and reach a plateau of 8,000 barrels of oil equivalent per day net to DNO. Afrodite, like Atlantis and Carmen, is a candidate for tie-back to Kvitebjørn. An appraisal...