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DNO Reports Payment for Tawke Deliveries

Source: www.gulfoilandgas.com 10/3/2016, Location: Middle East

DNO ASA, the Norwegian oil and gas operator, reported receipt of USD 37.40 million from the Kurdistan Regional Government as payment towards July 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 USD 31.37 million toward the monthly entitlement for July deliveries and USD 6.03 million toward the recovery of outstanding receivables for past deliveries.

Tawke production in July averaged 117,992 barrels of oil per day (bopd), of which 117,579 bopd were earmarked for export. This was up from June production levels of 114,384 bopd, of which 113,601 bopd were earmarked for export.

An amount of USD 8.41 million remains outstanding from the Kurdistan Regional Government for Tawke June deliveries to the export market. The total invoiced amount for June is USD 38.41 million, for which a partial payment of USD 30 million was received on 8 August 2016.

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