DNO Jumps After Biggest Gas Discovery in Norway in a Decade
- Find is close to existing North Sea offshore infrastructure
- Norway hiked gas supply to Europe after Russia invaded Ukraine
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DNO ASA shares jumped in Oslo after it announced the biggest natural gas discovery off Norway in 10 years.
The find comes after Norway boosted gas production in an attempt to fill the gap created by Russia’s halt of most exports to Europe following the invasion of Ukraine. The development of new discoveries is necessary to sustain those extra supplies over the longer term.