Update on Kurdistan operations
(Thomson Reuters ONE) -
DNO International ASA today received a second payment of USD 60 million from the
Kurdistan Regional Government in respect of oil exports from the Tawke field
operated by the Company in northern Iraq. A first payment of USD 103.7 million
was received in June 2011.
The Company had previously reported temporary reductions in production from the
Tawke field to permit field performance evaluation. Reservoir monitoring efforts
are ongoing but production has now been increased to 55,000 barrels a day.
Drilling and testing of exploration wells continue on other DNO blocks in
Kurdistan as do engineering studies to increase output capacity of the fields in
the Tawke and Erbil licenses.
DNO has initiated efforts towards oil sales to regional refineries, a program
that had been successfully implemented previously, but terminated when all
production was earmarked for export in early February this year. The volume and
value of domestic sales will depend on market conditions.
Oslo, 21 September 2011
DNO International ASA
Corporate Communications
For more information:
Media: | Financial market:
-------------------------------------+------------------------
Communication Director Tom Bratlie | CFO Haakon Sandborg
Phone: +47 905 21 904 | Phone: +47 23 23 84 80
|
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
Update on Kurdistan operations:
http://hugin.info/36/R/1548450/475852.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
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originality of the information contained therein.
Source: DNO International ASA via Thomson Reuters ONE
[HUG#1548450]
Unternehmensinformation / Kurzprofil:
Datum: 21.09.2011 - 08:29 Uhr
Sprache: Deutsch
News-ID 68228
Anzahl Zeichen: 2373
contact information:
Town:
Oslo
Kategorie:
Business News
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"Update on Kurdistan operations"
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