DNO reconciling Tawke oil accounts with KRG

09/03/2012
DNO International ASA, Oslo, said that the company's share of oil exports from the Kurdistan Region of Iraq has averaged 40,000 b/d from startup 10 days ago and that the company will continue to deliver these volumes at least through the first week of September as requested by the Kurdistan Regional Government. DNO International is also nearing completion of its obligation to the KRG under a previously disclosed protocol to reconcile past accounts and begin applying the fiscal terms of the existing production sharing contract covering the Tawke license as from June 1, 2012. To meet this obligation, DNO International allocated its share of Tawke production to the KRG for local consumption ...
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