DNO Boosts Upstream Capex

摘要

Norway-based DNO is increasing capital expenditure across its upstream portfolio this year as new payment terms with Kurdistan kick in (IOD Feb.12'16). The company, which is controlled by RAK Petroleum of the UAE, plans to invest $100 million in exploration and development in 2016 after slashing spending to $51 million in 2015 from $297 million a year earlier on the back of the slide in oil prices.