DNO receives payment for Tawke crude

Jun 20, 2018
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DNO ASA, the Norwegian oil and gas operator, on Wednesday said it received US$62.19 million as payment for March 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, it said in a statement

Separately, a payment of $5.58 million has been received net to DNO, representing three percent of gross Tawke license revenues during March, 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.