DNO Confirms KRG Payment for Tawke Deliveries

Norwegian oil and gas operator DNO ASA confirmed the receipt of $16.3 million from the Kurdistan Regional Government as a second payment towards April crude oil deliveries to the export market from the Tawke field.

With the receipt of $16.0 million last week, the payment completes the settlement of the total invoiced amount for April of $32.3 million, of which $27.1 million comprised the monthly entitlement and $5.2 million was towards the recovery of outstanding receivables for past deliveries.

The funds are to be shared pro-rata by DNO and partner Genel Energy plc. Tawke production in April averaged 118,918 barrels of oil per day, of which 117,815 bopd were earmarked for export, up from an average of 74,546 bopd in March.



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