By John Lee.
DNO ASA, the Norwegian oil and gas operator, today confirmed receipt of USD 30 million (36 billion Iraqi dinars) as first payment for oil exported by the Kurdistan Regional Government from the Tawke field during 2014.
The payment will be shared by DNO (USD 20.625 million) and partner Genel Energy plc (USD 9.375 million), reflecting their relative participation in the Tawke license operated by DNO.
Bijan Mossavar-Rahmani (pictured), DNO's Executive Chairman, commented:
"This payment and the payments to follow until producers receive full contractual entitlements for exports propel us towards regularisation and internationalisation of the oil industry in Kurdistan...
"We are committed to Kurdistan and will do more with more."