Norwegian independent oil company DNO International said its reserves in 2007 shot up on the strength of Iraqi oil by about 18 percent to 152 million barrels of oil equivalent.

The Tawke field in Kurdish Northern Iraq is believed to hold 230 MMboe, unchanged, but changing cost structures were understood to have affected reserves book-keeping.

Meanwhile, testing of the 2008 discovery well Hawler No. 1 continues, as at the Yaalen No. 1 well in Yemen.

Managing director Helge Eide said the company is now targeting up to 390 MMboe in its current campaign with the drill bit.

Tags: DNO