Kurdistan Region pays new batch of dues to oil companies
ERBIL, Kurdistan Region (Kurdistan24) – DNO ASA, the Norwegian oil and gas operator and the largest producer in the Kurdistan Region, on Thursday, reported receipt of 40.66 million dollars from the Kurdistan Regional Government (KRG).
The payment towards April 2017 crude oil shipments from the Tawke field will be shared pro-rata between DNO and its partner Genel Energy plc, including 34.10 million dollars for monthly deliveries and $ 6.56 million in arrears.
The partners of the Taq Taq field also received a gross payment of 13.4 million dollars for oil sales, which comprises 12.1 million dollars towards monthly contractor entitlements and 1.3 million dollars towards the recovery of historical receivables. Genel Energy received a net share payment of 7.4 million dollars from this payment.
The KRG has been independently exporting at best roughly half a million barrels a day, through the Ceyhan port in Turkey since its share of the Iraqi national budget was cut in early 2014.
The Iraqi government has also threatened to take action against companies transporting Kurdish crude oil exports to the extent that a Canadian court has seized a 721,915-barrel cargo from the Kurdistan Region following a request by the Iraq Oil Ministry.