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DNO ASA — Environmental & Social Information 2019
Mar 27, 2019
3580_10-k_2019-03-27_10c98ed2-e4fa-4842-a6bb-a2ac94326cf7.pdf
Environmental & Social Information
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Country-by-Country Report 2018
In line with the Norwegian Accounting Act and Norwegian Securities Trading Act, the Company has prepared a country-by-country report for its activities in the extractive industries, including information on investments, revenue, production, cost and the number of employees in each country of operation 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 Group's performance in each country of operation can be found in Note 2 of the DNO ASA's 2018 Annual Report and Accounts. Additional information regarding how the Group recognizes its revenues in the Kurdistan region of Iraq can be found in Note 1. A complete list of the Group's oil and gas license portfolio is disclosed in Note 24.
| (USD million) License, legal entity level and country/region of operation1 |
Country of incorporation2 Royalty3 |
CWI production4 |
income tax5 | tax6 | fee7 | Corporate Special Area Contractual Invest- | bonuses8 ments9 Revenue10 Expenditure11 interest12 before tax10 earnings10 employees13 | Net inter | company Profit/-loss | Retained | Number of | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tawke | 236.2 | 79,694.0 | - | 1,135.0 | 0.1 | 0.6 | - | - | - | - | - | - | ||
| Erbil | - | 53.0 | - | - | - | 0.6 | - | - | - | - | - | - | ||
| Baeshiqa | - | - | - | - | - | 0.3 | - | - | - | - | - | - | ||
| DNO Iraq AS | Norway | - | - | - | - | - | - | 154.6 | 811.3 | -341.4 | - | 466.2 | 583.7 | |
| Total Kurdistan region of Iraq | 236.2 | 79,747.0 | - | 1,135.0 | 0.1 | 1.5 154.6 | 811.3 | -341.4 | - | 466.2 | 583.7 | 854 | ||
| Block 8 | - | 1,965.0 | 1.5 | - | - | - | - | - | - | - | - | - | ||
| DNO Oman Block 8 Limited | Guernsey | - | - | - | - | - | - | 18.1 | -9.4 | 5.0 | 13.7 | -9.0 | ||
| Total Oman | - | 1,965.0 | 1.5 | - | - | - | - | 18.1 | -9.4 | 5.0 | 13.7 | -9.0 | 41 | |
| Block 47 | - | - | - | - | - | - | - | - | - | - | - | - | ||
| DNO Yemen AS | Norway | - | - | - | - | - | - | - | - | -6.8 | - | -6.8 | -95.4 | |
| Total Yemen | - | - | - | - | - | - | - | - | -6.8 | - | -6.8 | -95.4 | 5 | |
| Block SL 18 | - | - | - | - | - | - | - | - | - | - | - | - | ||
| DNO Somaliland AS | Norway | - | - | - | - | - | - | - | - | -1.1 | - | -1.1 | -5.4 | |
| Total Somaliland | - | - | - | - | - | - | - | - | -1.1 | - | -1.1 | -5.4 | - | |
| DNO Norge AS | Norway | - | - | -10.8 -22.4 | 0.6 | - | 1.3 | 0.1 | -41.7 | - | -43.8 | -47.4 | ||
| Total Norway | - | - | -10.8 -22.4 | 0.6 | - | 1.3 | 0.1 | -41.7 | - | -43.8 | -47.4 | 25 | ||
| DNO Exploration UK Limited | UK | - | - | - | - | - | - | - | 0.8 | -6.9 | - | -6.8 | -45.1 | |
| Total UK | - | - | - | - | - | - | - | 0.8 | -6.9 | - | -6.8 | -45.1 | 3 | |
| DNO Oman AS | Norway | - | - | - | - | - | - | - | - | -0.4 | - | -0.4 | -35.4 | - |
| Northstar Exploration Holding AS | Norway | - | - | - | - | - | - | - | - | -0.1 | - | - | -75.4 | - |
| DNO UK Limited | UK | - | - | - | - | - | - | - | - | - | - | - | -36.1 | - |
| DNO Mena AS | Norway | - | - | - | - | - | - | - | - | - | - | 68.7 | -259.4 | - |
| DNO Invest AS | Norway | - | - | - | - | - | - | - | - | - | - | - | -19.8 | - |
| DNO ASA | Norway | - | - | - | - | - | - | 1.2 | 15.2 | -43.5 | -5.1 | 428.2 | 378.6 | 62 |
| DNO Technical Services AS | Norway | - | - | - | - | - | - | - | 22.4 | -23.2 | - | -0.7 | -3.2 | 83 |
| Other * | - | - | - | - | - | - | 1.2 | 37.6 | -67.2 | -5.1 | 495.9 | -50.7 | 145 |
* Other includes directly owned subsidiaries of DNO ASA that did not hold oil and gas licenses during the year.
1 Country/region of operation is the country where the company carries out its main activity.
2 Country of incorporation is the jurisdiction in which the legal entity is registered.
3 Royalty is a fee payable to the Kurdistan Regional Government before distribution of cost oil and profit oil.
4 Company Working Interest (CWI) production in barrels of oil equivalent per day (boepd).
5 Corporate tax paid/-received during the year.
a tax refund of exploration costs.
7 8 Area fee in Kurdistan and Norway. Contractual bonuses include environment funds, training funds and rental fees.
9 Investments as presented in the consolidated financial statements and include estimate changes in asset retirement obligations.
10 Revenues, expenditure, profit/-loss before tax and retained earnings in accordance with the accounting principles in the consolidated financial statements and include
intercompany transactions. Audit of statutory financial statements is not completed at the time of issuing this report.
11 Expenditure as presented in accordance with the accounting principles in the consolidated financial statements and includes cost of goods sold, administrative expenses, other operating expenses and exploration costs expensed including intercompany transactions.
12 Net intercompany interest expense/-income to/from Group companies incorporated in another jurisdiction.
13 Number of employees at yearend.
Country-by-Country Report 2018 DNO
6 In Kurdistan, special tax and corporate income tax together comprise Group's share of government take. In Norway, the special tax and corporate income tax relate to