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DNO Gets Kurdistan Payment

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Norway's DNO International reported Monday that the Kurdistan Regional Government has made a payment of $160 million to international members of the Tawke joint venture in Iraqi Kurdistan.

The monies were a partial payment for past oil exports from the onshore Tawke field in Kurdistan. DNO itself will receive $116 million as its share of the payment, with the balance to be transferred to Genel Energy.

"We are pleased to receive this latest payment as we continue to increase production capacity at Tawke and develop our other Kurdistan discoveries," DNO International Executive Chairman Bijan Mossavar-Rahmani said in a company statement.

DNO International is the operator and holds 55 percent interest of the Tawke license.



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