DNO ASA, the Norwegian oil and gas operator has reported receipt of US$24.28 million from the Kurdistan Regional Government as a second payment towards May crude oil deliveries to the export market from the Tawke field.
With the receipt of US$15.00 million earlier this week, the payment completes settlement of the total invoiced amount for May of US$39.28 million, of which US$32.95 million comprised the monthly entitlement and US$6.34 million was towards the recovery of outstanding receivables for past deliveries.
The funds will be shared pro-rata by DNO and partner Genel Energy plc.
Tawke production in May averaged 117 757 bpd, of which 114 848 bpd were earmarked for export.
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/23062016/dno-reports-payment-for-tawke-deliveries/