DNO to up Kurdistan investments
Kurdistan Region of Iraq The news came as Reuters reported that the Kurdistan Regional Government “made a full monthly payment of around USD 100 million” to IOCs including DNO, Genel, Gazprom, Taqa and Gulf Keystone.
“The company has received year-to-date export payments totaling USD 297 million net to DNO, up from USD 210 million during the full-year 2016,” DNO said in a press statement. “With continuing export payments, DNO will step up investments in Kurdistan in 2018.”
DNO also announced Q3 revenue of USD 73 million, up 48% year-on-year, and said the recently drilled Peshkabir-3 well had tested about 3,000 bopd.
“The company has fast tracked the development of the [Peshkabir] field and an early production facility will be commissioned by year-end,” the statement added.
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