OSLO
DNO ASA, the Norwegian oil and gas operator, today reported receipt of $62.46 million from the Kurdistan Regional Government as payment for December 2017 crude oil deliveries to the export market from the Tawke licence. The funds will be shared by DNO and partner Genel Energy plc pro-rata to the companies’ interests in the license.
DNO operates and has a 75 per cent interest in the Tawke licence, which contains the Tawke and Peshkabir fields. Combined production from the two fields during December averaged 109,903 barrels of oil per day.
DNO ASA is a Norway-based oil and gas operator focused on the Middle East and North Africa. Founded in 1971 and listed on the Oslo Stock Exchange with the code DNO. OL, the company holds stakes in onshore and offshore licences at various stages of exploration, development and production in the Kurdistan region of Iraq, Yemen, Oman, the United Arab Emirates, Tunisia and Somaliland. Its largest shareholder is UAE-based RAK Petroleum.
Petrofac has major operational centres in Sharjah and Abu Dhabi, where it is currently working on the closing stages of the US$500 million SARB3 offshore development project and the development of artificial islands for the offshore Upper Zakum field. Elsewhere in the Gulf, it has major projects in Oman, Saudi Arabia and Kuwait, with other operational centres in Britain, Malaysia and India. It is listed on the London Stock Exchange with the code PFC.
