DNO Reports Payment for Tawke Deliveries

Source: www.gulfoilandgas.com 1/23/2017, Location: Middle East

DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 38.89 million from the Kurdistan Regional Government as payment towards October 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 USD 32.62 million toward monthly deliveries and USD 6.27 million toward recovery of outstanding receivables.

Tawke production in October averaged 108,122 barrels of oil per day (bopd), of which 107,450 bopd was delivered for export through Turkey.

In 2016, Tawke production averaged 107,299 bopd, of which 105,536 bopd was delivered for export. Tawke production during January to date has averaged 113,876 bopd.


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