DNO Reports Payment for Tawke Deliveries

Source: www.gulfoilandgas.com 7/20/2018, Location: Middle East

DNO ASA, the Norwegian oil and gas operator, reported receipt of USD 62.33 million as payment for April 2018 crude oil deliveries to the export market from the Tawke license in the Kurdistan region of Iraq. The funds will be shared by DNO and partner Genel Energy plc pro-rata to the companies' interests in the license.

Separately, a payment of USD 5.41 million has been received net to DNO, representing three percent of gross Tawke license revenues during April, as provided for under last August's receivables settlement agreement with the Kurdistan Regional Government.

DNO operates and has a 75 percent interest in the Tawke license, which contains the Tawke and Peshkabir fields.


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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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