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$21.45mln payment received by DNO for Kurdistan oil export

On last Monday, the Norwegian oil and gas operator DNO ASA, confirmed receipt of USD 21.45 million from the Iraq’s Kurdistan Regional Government KRG for exports from the Tawke field under a new payment arrangement announced on 1 February 2016.
The company said in a statement that the payment, to be shared pro-rata by DNO and partner Genel Energy plc, includes USD 17.99 million toward the monthly entitlement for January exports and USD 3.46 million toward the recovery of outstanding entitlements for past deliveries.
Presently, Tawke deliveries for export in January averaged 119,390 barrels per day.
According to a statement, released by Genel, the company announced last Friday that Taq Taq field partners have received a gross payment of $16.3 million from the KRG for oil exported through the Kurdistan Region of Iraq-Turkey pipeline. Genel’s share of the gross Taq Taq payment is $9 million.
DNO ASA is a Norwegian oil and gas operator focused on the Middle East and North Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Yemen, Oman, the United Arab Emirates, Tunisia and Somaliland.
Updated 18 Feb 2016 | Soruce: eKurd | By S.Seal
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