DNO in defiant mood despite Kurdistan setbacks

摘要

London-Kurdistan-focused DNO issued a defiant update on its business Friday including an upgrade to proved reserve levels at its Tawke field, in the face of recent industry setbacks in the semi-autonomous region. A renewed commitment by the Kurdish regional government to make monthly payments to oil companies for their production had “set the foundation for higher spending at Tawke,” DNO said. A 67 million barrel upgrade to proved reserves at Tawke to 387 million barrels at yearend came after fellow Kurdistan producer Genel Energy announced a near 50% reduction in proved plus probable reserves at its Taq Taq field.