The Traderszone Network

Published in TZ Latest News 15 October, 2017 by The TZ Newswire Staff

DNO Reports First Payment Under Kurdistan Receivables Settlement

Oslo, 16 October 2017 – DNO ASA, the Norwegian oil and gas operator, today reported the first payment from the Kurdistan Regional Government under the recently concluded agreement covering outstanding receivables for past crude oil deliveries. Under the agreement effective 1 August 2017, the Company was assigned the Government’s 20 percent interest in the Tawke license as well as three percent of gross Tawke license revenues payable monthly over a five-year period.