With reference to recent media reports concerning export of oil from
Tawke Field in Kurdistan Region of Iraq, DNO wishes to make the
following comments:
As per previous announcements from DNO, the Company has been
authorized by KRG to finalize all remaining work in preparation for
export of oil from the Tawke field, including tie-in to the Northern
Strategic Pipelines through Turkey. This work is progressing as
planned and is expected to be completed early next year.
Following contacts with Kurdistan Regional Government (KRG) today,
DNO has been advised by KRG that they expect that export from Tawke
can commence during the first quarter 2009. KRG further advises that
good progress has also been made in the discussions regarding export
from the TaqTaq field, which is the only other potentially producing
field for now in the Kurdistan Region of Iraq.
As per today DNO has not received an authorization for export of oil
from Tawke. However, in sum the above confirms that there is
progress according to plan for tie-in as well as export of oil from
the Tawke Field.
28 November, 2008
DNO International ASA
Contact:
Media:
Helge Eide, MD DNO International 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 International Telephone: +47 23 23 84 80
ASA
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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