DNO ASA receives US$20 million

DNO ASA has reported receipt of US$20.11 million from the Kurdistan Regional Government for March crude oil deliveries to the export and local markets from the Tawke field under the payment arrangement.

The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include US$16.87 million toward the monthly entitlement for March deliveries and US$ 3.24 million toward the recovery of outstanding receivables for past deliveries.

Tawke deliveries for export in March averaged 74 546 bpd. Export deliveries in March were impacted by the extended closure of the Turkish segment of the export pipeline during the first half of the month. Tawke deliveries to the local market in March averaged 4446 bpd, down from 6697 bpd a month earlier. For purposes of pricing and entitlement payments, March deliveries to the local market were treated as deemed exports.

During April to date, Tawke deliveries for export have averaged 117 256 bpd.

Edited from press release by Angharad Lock

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/12042016/dno-asa-receives-us20-million-2357/