Norwegian oil producer DNO will become the first foreign company in more than three decades to start pumping crude from Iraq into the global market next month, it was reported today.
The company was due to announce that it would start producing a small amount of oil from Kurdistan, the semi-autonomous region of northern Iraq, the Financial Times said in London, Reuters reported.
“We are ready to pump,” DNO Chief Executive Helge Eide was reported as saying. “We never thought that we would be in a position to start producing oil from Kurdistan only two years after we commenced exploration.”
DNO is due to report first-quarter earnings later today.