DNO receives $39.59mn from Kurdistan for May 2017 crude oil deliveries

The funds, to be shared pro-rata by DNO and partner Genel Energy, include US$33.21 million towards monthly deliveries and US$6.39 million towards recovery of outstanding receivables.

The payment is for the May 2017 crude oil deliveries to the export market from the Tawke licence.
The payment is for the May 2017 crude oil deliveries to the export market from the Tawke licence.

DNO ASA reported the receipt of US$39.59 million from the Kurdistan Regional Government as payment towards the May 2017 crude oil deliveries to the export market from the Tawke licence.

The funds, to be shared pro-rata by DNO and partner Genel Energy, include US$33.21 million towards monthly deliveries and US$6.39 million towards recovery of outstanding receivables.

DNO ASA is a Norwegian oil and gas operator focused on the Middle East-North Africa region and the North Sea.

Founded in 1971 and listed on the Oslo Stock Exchange, the company holds stakes in onshore and offshore licences at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, Oman, Somaliland, Tunisia, the United Kingdom and Yemen.

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