DNO
DNO reports payment for Tawke licence deliveries
OSLO, April 2, 2020
DNO ASA, the Norwegian oil and gas operator, has reported receipt of $77.235 million as payment for October 2019 crude oil deliveries to the export market from the Tawke licence 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 licence.
Separately, a payment of $5.71 million has been received net to DNO, representing three per cent of gross October 2019 Tawke licence revenues, as provided for under the August 2017 receivables settlement agreement with the Kurdistan Regional Government.
DNO operates and has a 75 per cent interest in the Tawke licence which contains the Tawke and Peshkabir fields. -- Tradearabia News Service
