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DNO receives payment for Tawke deliveries

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Oilfield Technology,

DNO ASA, the Norwegian oil and gas operator, has today reported receipt of US$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 US$5.41 million has been received net to DNO, representing 3% 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% interest in the Tawke license, which contains the Tawke and Peshkabir fields.

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