The Kurdistan Regional Government (KRG) made a second instalment of $16.3 million for April's crude oil deliveries to the export market from the Tawke field in Northern Iraq, according to the company on Wednesday.
'With the receipt of $16 million last week, the payment completes the settlement of the total invoiced amount for April of $32.3 million, of which $27.1 million comprised the monthly entitlement and $5.2 million was towards the recovery of outstanding receivables for past deliveries,' the company said.
The funds are to be shared pro-rata by DNO and partner Genel Energy plc.
According to the company, Tawke field production in April averaged 118,918 barrels of oil per day (bopd), of which 117,815 bopd were earmarked for export, up from an average of 74,546 bopd in March.
DNO is operational in KRG since 2004 as one of the first international oil companies in the region.
The Tawke field produced a gross average of 135,000 bopd in 2015.
DNO holds a 55 percent interest in and operates the Tawke license, while 25 percent is held by Genel Energy and 20 percent by the KRG.
By Huseyin Erdogan
Anadolu Agency
huseyin.erdogan@aa.com.tr