DNO ASA — Environmental & Social Information 2016

Mar 18, 2016

Country-by-Country Report 2015

In line with regulatory developments in the European Union, the Norwegian government requires country-by-country reporting for its multinational companies with activities in the extractive industries. Such companies are required to report on activities in each country of operation, including information on investments, revenue, production, purchases of goods and services and the number of employees in each country by subsidiary. Among other requirements, total payments to governmental bodies during the financial year must be broken down by country and by payment type.

Additional information regarding the company's performance in each country of operation can be found in Note 2 of DNO ASA's 2015 Annual Report and Accounts. Additional information regarding how the company recognizes revenues in the Kurdistan region of Iraq can be found in Note 3.

USD million License and country	Royalty1	Revenues2	Corporate tax3	Special tax4	Invest ments5	Purchase of goods and services6	Contractual bonuses7	Contractual social con tributions8	Land owner compen sation9	Number of employees10
Tawke (DNO Iraq AS)	29.6	317.0	-	159.6	47.9	24.6	0.5	-	1.8
Erbil (DNO Iraq AS)	-	-	-	-	-0.7	0.9	0.4	-	-
Dohuk (DNO Iraq AS)	-	-	-	-	-0.6	1.8	0.4	-	0.1
Total Kurdistan	29.6	317.0	-	159.6	46.5	27.2	1.2	-	1.8	489
Block 8 (DNO Oman Block 8 Ltd)	-	40.8	6.7	14.0	0.4	13.4	0.1	-	-
Block 36 (DNO Oman AS)	-	-	-	-	-	0.6	0.3	-	-
Total Oman	-	40.8	6.7	14.0	0.4	14.0	0.4	-	-	44
Block 32 (DNO Yemen AS)	0.1	2.4	0.2	0.5	-0.2	5.7	0.2	-	-
Block 43 (DNO Yemen AS)	0.1	2.9	0.2	0.9	-	6.5	0.5	-	-
Block 47 (DNO Yemen AS)	-	-	-	-	0.6	0.8	0.4	-	-
Block 53 (DNO Yemen AS)	-	-1.0	-0.1	-0.3	0.1	1.3	-	-	-
Total Yemen	0.1	4.2	0.3	1.0	0.5	14.2	1.1	-	-	41
Saleh (DNO Al Khaleej Ltd)	-	-	-	-	-	0.3	-	-	-
RAK Onshore (DNO Al Khaleej Ltd)	-	-	-	-	-	0.1	-	-	-
RAK B (DNO Al Khaleej Ltd)	-	-	-	-	-	-	-	-	-
Total United Arab Emirates	-	-	-	-	-	0.4	-	-	-	6
Fkirine (DNO Tunisia AS)	-	-	-	-	-	0.1	-	-	-
Hammamet (DNO Tunisia AS)	-	-	-	-	-	0.2	-	-	-
Sfax (DNO Tunisia AS)	-	-	-	-	0.1	3.2	-	-	-
Total Tunisia	-	-	-	-	0.1	3.5	-	-	-	37
Block SL 18 (DNO Somaliland AS)	-	-	-	-	0.2	0.2	0.1	0.1
Total Somaliland	-	-	-	-	0.2	0.2	0.1	0.1	-	8
Other *	-	-	-	-	3.0	-	-	-	-	110
GRAND TOTAL	29.7	362.0	7.0	174.6	50.7	59.5	2.7	0.1	1.8	735

* Other includes DNO ASA and DNO Technical Services AS

1 Royalty is a fee payable to the government before distribution of cost oil and profit oil

2 Company Working Interest revenues include the share of government take

3 Corporate tax on taxable income

4 Special tax and corporate tax together comprise government take

5 Capital expenditures

6 Purchase of goods and services are allocated based on invoice address

7 Contractual bonuses include environment funds, training funds and rental fees

8 Contractual social contributions and committed community support

9 Land owner compensation

10 Number of employees per location at the end of the year

Gross production		Year
barrels of oil equivalent per day (boepd)	2015	2014
Kurdistan	135,416	95,011
Oman	8,193	15,678
Yemen	883	6,793
Total production (boepd)	144,492	117,482

Company Working Interest (CWI) production Year

barrels of oil equivalent per day (boepd)	2015	2014
Kurdistan	83,928	58,414
Oman	4,096	7,839
Yemen	387	2,705
Total production (boepd)	88,411	68,958

Net entitlement production Year

2015	2014
28,147	23,746
2,190	4,160
228	1,876
30,566	29,782

* Net entitlement from past exports from the Tawke field in Kurdistan has been estimated based on the contractual provisions but the company has not received payments for the full net entitlement production.