Norway’s DNO financed for drilling in Kurdish region of Iraq

11 Jul 2017   Iraq, Norway

Norwegian energy company DNO said there’s been a steady string of financial support for its operations in the Kurdish north of Iraq. Photo courtesy of DNO July 10 (UPI) — Steady payments from a Kurdish government preparing an independence referendum in Iraq means more capital for drilling, Norway’s DNO International said. Budgetary constraints for the semiautonomous Kurdistan Regional Government caused contractual issues with international energy companies working in the region in the past. The Norwegian company said payments for exports and other work, however, have continued steadily for more than a year, which backed up its appraisal program in the Kurdish north. “With 16 consecutive monthly export payments from the Kurdistan Regional Government in line with contractual entitlements, we’ve ramped up drilling with three rigs currently active across the portfolio,” Executive Chairman Bijan Mossavar-Rahmani said in a statement . The company exported the bulk of what it produced from […]

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