Core Viewpoint - DNO ASA has been instructed to prepare for oil exports through the Iraq-Türkiye Pipeline starting on 27 September 2025, following agreements among the Federal Government of Iraq, the Kurdistan Regional Government, and international oil companies [1]. Group 1: Export Operations - DNO will deliver the Kurdistan Regional Government's share of sales from the Tawke license, averaging 38,000 barrels per day, for export [2]. - The foreign contractor group, including DNO and Genel Energy International Limited, will continue selling an average of 30,000 barrels per day to local buyers under existing contracts [2]. - DNO has opted not to engage directly in exports at this time, continuing to sell oil on a cash-and-carry basis at prices in the low USD 30s per barrel [3]. Group 2: Buyer Arrangements - Buyers have established their own arrangements to place oil purchased from DNO into the export pipeline, which supports the larger export project [4]. Group 3: Agreements and Financials - The agreements between the Federal Government of Iraq, the Kurdistan Regional Government, and participating international oil companies will end at year-end, with the first payment expected to be USD 14 per barrel after transportation costs, anticipated in mid-December [5]. - This payment figure will be adjusted in 2026 based on evaluations by a Baghdad-designated consultant [5]. Group 4: Production Expansion - DNO has launched a major production expansion program at the Tawke and Peshkabir fields to replace equipment damaged during July drone attacks, with plans to drill eight wells in 2026 targeting production of 100,000 barrels per day [6]. - The company emphasizes the need for immediate, predictable, and continuous flow of funds to support this ambitious program [6].