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Oil Firm DNO Receives Second May Payment From Kurdistan Government

The DNO oil rig in Tawke.
The DNO oil rig in Tawke.

Brief

The Norwegian oil company DNO says:

* Today reported receipt of $24.28 million from Kurdistan Regional Government as a second payment towards May crude oil deliveries to export market from Tawke field in Iraq.

* With receipt of $15.00 million earlier this week, the payment completes settlement of total invoiced amount for May of $39.28 million, of which $32.95 million comprised monthly entitlement and $6.34 million was towards recovery of outstanding receivables for past deliveries.

* The funds will be shared pro-rata by DNO and partner Genel Energy.

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

http://af.reuters.com/article/idAFFWN19C0G1

 

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