Norwegian operator DNO has returned to the North Sea after buying Stavanger-based Origo Exploration Holdings.
Oslo-listed DNO spun off its Norwegian assets about six years ago, switching its focus to the Middle East and North Africa.
Its flagship operation is the Tawke field in the Kurdistan region of Iraq.
The acquisition of Origo, which was founded in 2014, gives DNO stakes in 11 exploration and appraisal licenses in the North Sea.
Of that total, seven are on the Norwegian Continental Shelf and four on the UK Continental Shelf.
DNO will take on Origo’s drilling commitments and license obligations effective March 31, 2017.
It will also retain Origo’s management, staff members and headquarters in Stavanger and rebrand the company DNO Norge AS.
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.
“We are now positioned to pursue further asset acquisitions and, importantly, to compete in future exploration bid rounds offshore Norway.”
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