DNO has stated that development drilling at the Tawke field in the Kurdistan Region of Iraq has been scaled back due to the current market conditions.
DNO stated that itself and contractor staff movements and rotations have been impacted by border closings, quarantines and other coronavirus travel restrictions.
DNO further stated that its ability to maintain its level of spending has also been strained by interruptions and delays to monthly payments for its oil exports from Kurdistan; the last payment received in January covered September 2019 exports.
By the end of March, the number of active drilling rigs deployed on the Tawke licence will drop to one, from four at the beginning of the year. DNO expects to ramp up operations quickly once the external environment improves.
Production at the Tawke licence in 2020 to date has averaged just over 116,000 bopd.