Somaliland: DNO Reports Payment for Tawke Deliveries


DNO Somaliland operation area

Somalilandsun- DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 39.59 million from the Kurdistan Regional Government as payment towards May 2017 crude oil deliveries to the export market from the Tawke license. The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 33.21 million towards monthly deliveries and USD 6.39 million towards recovery of outstanding receivables.

DNO ASA is a Norwegian oil and gas operator focused on the Middle East-North Africa region and the North Sea. 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, Norway, Oman, Somaliland, Tunisia, the United Kingdom and Yemen.

Read: DNO entered Somaliland in 2013.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: DNO ASA via Globenewswire

This article appears in: News Headlines

Referenced Stocks: DNO

In Somaliland DNO which was awarded oil and gas expolration concessions in 2013 also got and extension of its PSA earlier in the year which runs up to end of 2017. 

For more details of this extension continue reading DNO Granted Somaliland Extension