Norwegian oil and gas group ASA said its share of oil exports from the Kurdistan Region of northern Iraq has averaged 40,000 barrels per day from start-up ten days ago.?
It will continue to deliver these volumes at least through the first week of September as requested by the Kurdistan Regional Government (KRG).
DNO operates the Tawke field, one of the few producing oil fields in the Kurdistan region of northern Iraq.?
It holds a 55 percent stake in the venture, with Tony Hayward?s () controlling 25 percent and the KRG holding 20 percent.
DNO is also close to reconciling past accounts and starting to apply the terms of the existing Takwe Production Sharing Contract, in line with its obligation to the KRG.
To meet this obligation, DNO allocated its share of Tawke production to the KRG for local consumption during June, July and part of August.
The reconciliation calculation does not include current exports nor volumes exported in 2009, 2011 and 2012 for which payments remain outstanding, the group said.?
?Under the agreement with the KRG, we will now receive our pro rata share of Tawke cost oil and profit oil as provided for in the original contract," said DNO chairman Bijan Mossavar-Rahmani.?
"Meanwhile, we hope our participation in the delivery of significant export volumes during August will contribute to the resolution of the internal differences in Iraq and lead to recovery of payments due for past and present oil exports by to enable us to continue to support this new initiative by the KRG," he added.
In ongoing operations in Kurdistan, the Tawke-18 well, designed to increase Cretaceous production and test a target below the main field-bounding fault, is drilling ahead at 2,359 meters.?
On the Erbil license, a horizontal well drilling ahead at 1,490 meters will further appraise the Benenan discovery and contribute additional production.?
Additionally, the company is currently mobilizing a second rig for its first deep test of the Jurassic and Triassic potential identified within the Tawke field. ?The well is expected to commence drilling in September.
Oslo-listed DNO focuses on the Middle East and North Africa, holding stakes in 17 licenses in various stages of exploration, development and production both onshore and offshore in the Kurdistan Region of Iraq, Yemen, Oman, the United Arab Emirates and Tunisia.
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