KRG parcels out payment for Tawke field

Kurdistan Region of Iraq

ERBIL, October 23, 2015 – Authorities from the Kurdistan Regional Government (KRG) have handed out a $30-million payment to DNO, Norway’s oil and gas company announced in a company release on Friday. The payment was for oil that had been shipped out of the region.

The $30-million payment was given to all the partners of Iraq’s Tawke field, which is operated by DNO, for oil exported through the Iraq-Turkey pipeline to the port of Ceyhan. Turkish oil company Genel Energy has a 25-percent stake in the field and will receive $9 million.

Genel had recently received back payments from the KRG, after receiving $8 million in September for the Tawke field and $16.5 million for its Taq Taq field.

The KRG had announced in early September that it would free up $75 million to pay its western oil operators.

For more news and features on the Kurdistan Region of Iraq, click here. 

Read our latest insights on:

• Iraq
• Kurdistan Region of Iraq

Previous

GE clinches $610-mln LNG contract

Next

Beach’s $1.17-bln acquisition