DNO, Genel Energy, confirm Tawke Payments

By John Lee.

DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 15.0 million from the Kurdistan Regional Government as partial payment to DNO and partner Genel Energy plc for May crude oil deliveries to the export market from the Tawke field.

The total invoiced amount for May is USD 39.28 million, of which USD 32.95 million comprises the monthly entitlement and USD 6.34 million is towards the recovery of outstanding receivables for past deliveries.

Tawke production in May averaged 117,757 barrels of oil per day (bopd), of which 114,848 bopd were earmarked for export.

The payment will be shared pro-rata by DNO and Genel Energy.

(Sources: DNO, Genel Energy)

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