DNO Continues to Highgrade North Sea Portfolio

Core Insights - DNO ASA has divested its 7.604 percent stake in the Ekofisk Previously Produced Fields (PPF) project to Orlen Upstream Norway AS while acquiring a 20 percent interest in license PL1135 and a 0.8272 percent interest in the Verdande field [1][2] Group 1: Divestment and Acquisition - The divestment of the Ekofisk PPF project aligns with DNO's strategy to optimize its North Sea portfolio and focus on increasing near-term cash flow with less expenditure [2] - DNO retains its 7.604 percent stake in PL018, which includes producing fields such as Ekofisk, Eldfisk, and Embla, as well as a share in the Tor Unit [3] - The acquisition of additional interests in the Verdande field increases DNO's total interest in the Verdande Unit to 14.8251 percent, which includes a 3.5 percent interest from a recent asset swap with Aker BP [3] Group 2: Future Developments - The Cassio prospect, located north of DNO-operated PL1086, is expected to have an exploration well drilled in late 2026 [4] - The Verdande field is in advanced development and is scheduled to start production later this year [3]