Norwegian company DNO is returning to the North Sea after acquiring Origo Exploration Holding.

With this acquisition, DNO will restart its North Sea operations after a six-year break.

DNO previously opted to focus on exploration projects in the Middle East and North Africa, reported Reuters.

The acquisition provides DNO with stakes in 11 exploration and appraisal licences in the North Sea.

Seven of these licences are located in the Norwegian Continental Shelf, with the remaining four on the UK Continental Shelf. 

DNO executive chairman Bijan Mossavar-Rahmani said: “Origo presented a unique and timely opportunity to partner with an experienced team with a strong record of exploration success and value creation. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
"Origo presented a unique and timely opportunity to partner with an experienced team with a strong record of exploration success and value creation."

“We are now positioned to pursue further asset acquisitions and, importantly, to compete in future exploration bid rounds offshore Norway.”

DNO will assume Origo's drilling commitments and licence obligations with an effective date of 31 Marchr as consideration for this transaction.

Following the acquisition, Origo will be rebranded DNO Norge AS and its management, staff and headquarters in Stavanger, Norway, will be retained by DNO.

Established in 2014, Origo was founded by two private equity-funded exploration companies, Revus Energy and Agora Oil & Gas.

The transaction is subject to regulatory approval.