DNO Reports Payment for Tawke Deliveries
(Thomson Reuters ONE) -
Oslo, 12 April 2016 - DNO ASA, the Norwegian oil and gas operator, today
reported receipt of USD 20.11 million from the Kurdistan Regional Government for
March crude oil deliveries to the export and local markets from the Tawke field
under the payment arrangement announced earlier this year.
The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include
USD 16.87 million toward the monthly entitlement for March deliveries and USD
3.24 million toward the recovery of outstanding receivables for past deliveries.
Tawke deliveries for export in March averaged 74,546 barrels of oil per day
(bopd), up from an average of 66,427 bopd in February. Export deliveries in
March were impacted by the extended closure of the Turkish segment of the export
pipeline during the first half of the month. Tawke deliveries to the local
market in March averaged 4,446 bopd, down from 6,697 bopd a month earlier. For
purposes of pricing and entitlement payments, March deliveries to the local
market were treated as deemed exports.
During April to date, Tawke deliveries for export have averaged 117,256 bopd.
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For further information, please contact:
Media: media(at)dno.no
Investors: investor.relations(at)dno.no
Tel: +47 911 57 197
--
DNO ASA is a Norwegian oil and gas operator focused on the Middle East and North
Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the company holds
stakes in onshore and offshore licenses at various stages of exploration,
development and production in the Kurdistan region of Iraq, Yemen, Oman, the
United Arab Emirates, Tunisia and Somaliland.
--
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 ASA via GlobeNewswire
[HUG#2002469]
Unternehmensinformation / Kurzprofil:
Datum: 12.04.2016 - 08:01 Uhr
Sprache: Deutsch
News-ID 463290
Anzahl Zeichen: 2489
contact information:
Town:
Oslo
Kategorie:
Business News
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"DNO Reports Payment for Tawke Deliveries"
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