DNO Confirms Payment from KRG

DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 21.45 million from the Kurdistan Regional Government for exports from the Tawke field under a new payment arrangement announced on 1 February 2016.

The payment, to be shared pro-rata by DNO and partner Genel Energy plc, includes USD 17.99 million toward the monthly entitlement for January exports and USD 3.46 million toward the recovery of outstanding entitlements for past deliveries.

Tawke deliveries for export in January averaged 119,390 barrels per day.

(Source: DNO)

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