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DNO, the Kurdistan-focused oil producer listed in Oslo, is re-entering its homeland by acquiring an energy company with licenses in the North Sea.
The group has agreed to buy Origo, an oil and gas exploration company with stakes in licences in both the Norwegian and UK continental shelves.
The acquisition – the price of which was not disclosed in a statement issued on Thursday morning – follows a tumultuous few years for oil companies in the semi-autonomous Kurdistan region of Iraq, during which oil companies have struggled to secure regular payments in exchange for their crude exports from the local administration.
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