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Tawke payment for DNO

Norwegian operator gains more cash from Kurdistan authorities for crude exports

DNO has received a further payment from the Kurdistan regional authorities for crude exports from its Tawke oilfield in the autonomous region of northern Iraq.

The payment of $34.75 million covers oil deliveries in June and will be shared on a pro-rata basis by the Oslo-listed independent, which holds a 75% operating stake in Tawke, and partner Genel Energy, with 25%.

DNO recently reached a landmark deal with the Kurdistan Regional Government to gain an additional 20% stake in the field previously held by the administration in lieu of outstanding receivables for historic exports.

Genel has meanwhile also received a total $10.22 million payment from the KRG for June oil exports from its operated Taq Taq field and will pocket a net share of $5.62 million.