DNO Reports Payment for Tawke Deliveries
DNO
Oslo - WAM
DNO ASA, the Norwegian oil and gas operator, today reported receipt of US$43.79 million from the Kurdistan Regional Government as payment towards December 2016 crude oil deliveries to the export market from the Tawke field.
The funds, to be shared pro-rata by DNO and partner Genel Energy Plc., include US$36.73 million toward monthly deliveries and US$7.06 million toward recovery of outstanding receivables.
Tawke production in December averaged 110,335 barrels of oil per day, of which 109,546 bopd was delivered for export through Turkey.
DNO ASA is a Norway-based 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. Its largest shareholder is UAE-based RAK Petroleum.
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