KRG Completes May Payment to DNO, Genel

DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 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 USD 15.00 million earlier this week, the payment completes settlement of the total invoiced amount for May of USD 39.28 million, of which USD 32.95 million comprised the monthly entitlement and USD 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 barrels of oil per day (bopd), of which 114,848 bopd were earmarked for export.

(Sources: DNO, Genel Energy)

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