Tawke Export Payment Received by DNO International
(Thomson Reuters ONE) -
Oslo, 3 December 2012 -- DNO International ASA ("DNO International"), the
Norwegian oil and gas company, was advised by the Kurdistan Regional Government
that a payment of USD 160 million was transferred last night for distribution to
the foreign members of the Tawke joint venture in partial payment for past oil
exports of oil from the Tawke field in the Kurdistan Region of Iraq. DNO
International's share of the payment is USD 116 million with the balance to be
transferred to partner Genel Energy plc.
DNO International will record its share of the payment in the fourth quarter of
2012. This is the third payment received by DNO International for oil exported
from the Tawke field during 2009, 2011 and 2012. Previous payments were received
in September 2011 for USD 60 million and in June 2011 for USD 104 million,
bringing the total received from Baghdad for exports to USD 280 million.
"We are pleased to receive this latest payment as we continue to increase
production capacity at Tawke and develop our other Kurdistan discoveries," said
Bijan Mossavar-Rahmani, DNO International's Executive Chairman.
DNO International is the operator and holds 55 percent interest of the Tawke
license.
---DNO International ASA is an Oslo-listed, Middle East and North Africa
focused, oil and gas company holding stakes in 17 licenses in various stages of
exploration, development and production both onshore and offshore in the
Kurdistan Region of Iraq, the Republic of Yemen, the Sultanate of Oman, the
United Arab Emirates and the Tunisian Republic---
http://www.dno.no
Oslo, 3 December 2012
DNO International ASA
Corporate Communications
Queries: Tom Bratlie (tom.bratlie(at)dno.no or tel: +47 905 21 904)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DNO International ASA via Thomson Reuters ONE
[HUG#1661938]
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Datum: 03.12.2012 - 08:01 Uhr
Sprache: Deutsch
News-ID 208767
Anzahl Zeichen: 2621
contact information:
Town:
Oslo
Kategorie:
Business News
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