Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Norway’s DNO, operator of the largest producing field in the semi-autonomous Kurdistan region of Iraq, says it estimates that it is owed roughly $1bn by Erbil, equal to the Oslo-listed independent’s entire market capitalization. Production from Tawke hit a daily gross production record of 180,130 b/d of oil equivalent (boe/d) in the second quarter but further investments will remain on hold unless regular payment is made, says Executive Chairman Bijan Mossavar-Rahmani.
Without new investment, production will begin to decline and everyone will lose, he warned in a discussion with analysts after DNO announced its second quarter results on 20 August.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE