DNO receives payment for Tawke license deliveries

DNO ASA, the Norwegian oil and gas operator, reported receipt of US$77.2 million as payment for October 2019 crude oil deliveries from the Tawke license in the Kurdistan region of Iraq.

The funds for deliveries to the export market, will be shared by DNO and partner Genel Energy plc pro-rata to the companies' interests in the license.

Separately, a payment of $5.71 million was also been received net to DNO, representing three percent of gross October 2019 Tawke license revenues, as provided for under the August 2017 receivables settlement agreement with the Kurdistan Regional Government.

DNO operates and has a 75 per cent interest in the Tawke license which contains the Tawke and Peshkabir fields.