DNO International ASA - DNO commences export of...
Reference is made to the Stock Exchange Notice released by DNO on 11
May 2009 announcing that Kurdistan Regional Government (KRG) had
given formal notice of export of oil from the Tawke field.
DNO has during the past weeks completed all outstanding work and
undertaken all necessary preparations and commissioning of the Tawke
facilities, and export of crude oil from the Tawke field commenced on
1st June 2009.
Helge Eide says:
"Commencement of export of crude oil from Tawke field represents the
most important milestone to KRG and DNO to date and it is a
significant occasion for the Kurdistan Region and all of Iraq. This
successful achievement is a product of the joint efforts by KRG and
DNO, and we appreciate the strong and continued support from KRG
during the development and completion of the first stage of the Tawke
project. We also wish to thank the North Oil Company for their recent
technical assistance and cooperation to connect the Tawke pipeline to
the Iraqi-Turkey main export pipeline which now enables the Tawke oil
to be transported to the international markets."
The first stage of the Tawke development has been designed to deliver
50,000 bopd and DNO is now for the first time in a position to test
the full capacity of the facilities. Fine-tuning and adjustments of
the facilities will be undertaken as required during the initial
run-in period and the plan is to establish a stable export rate at
full capacity as quickly as possible in a safe and prudent manner.
Exported volumes from Tawke will in the future be included in the
monthly production reports from the Company.
2 June, 2009
Contact:
Media:
Helge Eide, MD DNO ASA Telephone: +47 23 23 84 80
Ketil Jørgensen, Crux Communication Telephone +47 930 36 866
(Norway)
Ben Willey, Buchanan Communications Telephone: +44 207 466 5000
(UK)
Investor Relations:
Haakon Sandborg, CFO DNO ASA Telephone: +47 23 23 84 80
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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