DNO International has announced that it will build a second pipeline to export oil from its Tawke field in the Kurdistan Region of Iraq
The Norwegian explorer added that the second pipeline will have twice the capacity of the existing pipeline to export oil to the Fishkhabour terminal from where oil can be exported via other pipelines.
The firm had earlier posted an operating loss of US$71.9mn in Q4 2013, according to Reuters analysts.
Bijan Mossavar-Rahmani, executive chairman of DNO International, said, “We have an aggressive work programme planned for 2014 to drive up production and delivery capacity.”
The company added that it planned to increase the production capacity of the Tawke field to 200,000 bpd, fom current 155,000 bpd, by the end of 2014.
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