DNO Reports New Tawke Production Record

Norway’s DNO says production from its Tawke oil field in Iraqi Kurdistan has hit a daily record of 170,000 b/d. The recent expansion of Tawke’s output capacity to 200,000 b/d raises total production capacity from fields in the semi-autonomous region beyond 400,000 b/d. Further capacity increases will depend on regular payments for international exports by Erbil, which will struggle to meet its obligations to foreign operators unless Baghdad loosens federal purse strings.

DNO says in a 28 May update on KRG operations that its revenue stream had been growing as a result of prepayment for domestic crude sales, a temporary solution that has been adopted by the two other main producers of oil from the semi-autonomous region to cover part of their mounting receivables from Erbil. (CONTINUED - 1014 WORDS)